Regional LNG: Thai PTT establishes LNG unit

Thailand energy company PTT Public Company Limited (PTT) announced Friday it had established a company namely PTT LNG Company Limited (PTT LNG) to manage the liquefied natural gas (LNG) processing in the country.

?The objective of PTT LNG is to provide services and to manage operation and maintenance of the LNG terminal, LNG depot and LNG regasification plant with capacity of 3 - 5 million tons per year while PTT will procure / import and distribute the LNG,? PTT said in statement to the Stock Exchange of Thailand.

PTT said construction of the facilities is expected to be completed and start commercial operation in the year 2010.

"At this initial stage, PTT will hold 100% shares in PTT LNG, PTT will invite strategic partners, such as power producers and other LNG related players, etc., to join the project in the later stage," the company added.(Robert)