PTT strikes LNG supply deal with Petronas

PTT of Thailand has signed a long-term LNG import deal with Malaysia’s Petronas as it attempts to secure country’s gas supply. 

According to Reuters, PTT secured 1 million tons of liquefied natural gas per year under the contract.

The company’s chairman Piyasvasti Amranand told reporters that PTT intends to secure 70 percent of its needs for liquefied natural gas while it will turn to the spot market in order to secure the remaining 30 percent.

The company was given approval by Thailand’s energy policy makers for its plans to agree LNG import deals with Qatargas, Shell and BP.

LNG World News Staff; Image: PTT