Regional LNG: Thai PTT to develop domestic LNG market: Report

Thai state energy company PTT Plc is negotiating with LNG producers in several countries to supply of the fuel to Thailand, the Business Day of Thailand reported Sunday quoting a company senior executive.

Jittapong Kwangsooksathit, PTT's senior executive vice-president, said negotiations were underway with gas producers in several countries including Australia and Indonesia, but that deliveries will not begin until 2011, although a purchase agreement could be signed in three to four months.

PTT has signed memoranda of understandings (MOUs) with EGAT Plc (the former Electricity Generating Authority of Thailand) and Electricity Generating Plc (EGCOMP) on a plan to establish a Thai national LNG inventory, he said.

Under the agreements, PTT is expected to hold half the total investment. Its subsidiary, PTT Exploration and Production Public Co., Ltd. (PTTEP), will co-invest with LNG producers in which PTT acquires an investment stake, he added. (*)