Search Results for: liquefied natural gas
- Business News
Thailand’s longest onshore gas pipeline launched by PTT
PTT President Auttapol Rerkpiboon announced the opening of Thailand’s longest onshore gas pipeline. The 417-kilometre pipeline, previously delayed due to Covid-19, will secure the gas supply across seven provinces, supporting power generation, industrial operations, and transportation. As part of PTT‘s fifth-phase development, the pipeline extends from the company’s gas separation plants in Rayong to Nontha Buri, facilitating a gas transport…
- Business News
PTTEP forecasts 9% rise in petroleum sales due to expanded gas production
PTT Exploration and Production Plc (PTTEP) anticipates a 9% surge in petroleum sales in the coming year, largely due to the expanded gas production from the Erawan field in the Gulf of Thailand. The company’s President and CEO, Montri Rawanchaikul, revealed that the average sales for this year are anticipated to be around 464,000 barrels each day. This increase in…
- Economy News
Australian Chevron LNG workers’ strike unsettles global gas markets
Following unsuccessful negotiations, liquefied natural gas (LNG) workers at Chevron Corp’s key sites in Australia initiated partial strikes yesterday, a move that has unsettled global gas markets. This news spurred gas futures in Europe, causing them to leap by as much as 13%, illuminating the region’s susceptibility in the aftermath of last year’s energy crisis. Spot LNG in Asia also…
- Business News
PTTEP issues alert over potential Thai gas production and supply disruption
PTT Exploration and Production Plc (PTTEP) voiced its concern to the energy authorities regarding potential barriers that may impede the continued production of gas in the Gulf of Thailand. The current license to operate in the Pailin gas block is set to end in 2028. The reoccurrence of a disruptive incident similar to the one at the Erawan gas block…
- World News
Sabah targets RM1bn local oil and gas contracts, eyes green energy
Sabah’s Chief Minister, Datuk Seri Hajiji Noor, announced that the state aims to secure RM1 billion in local contract awards, accounting for 20% of total oil and gas contracts awarded this year. As of now, local contract awards have reached RM564 million, which is equivalent to 11% of the total spend in 2022. The revenue from oil and gas has…
- Thailand News
Pubs, gas stations, 24-hour stores to close early to save energy
The Energy Ministry of Thailand plans to close pubs, gas stations, and 24-hour convenience stores early to save energy if the situation gets worse. The Permanent Secretary of the Energy Ministry, Kurit Sombatsiri, revealed the conclusions from the energy crisis meeting between Prime Minister Prayut Chan-o-cha and the Energy Policy and Planning Office (EPPO) yesterday. Kurit explained that the increasing…
- Events
Thai PM orders investigation into Samut Prakan gas pipeline explosion, 3 dead
Thai PM Prayut Chan-o-cha is ordering an investigation into yesterday’s explosion of a gas pipeline in Samut Prakan, just south east of central Bangkok. At least 3 people were killed. Among the dead, 2 elderly women were killed, plus at least 28 confirmed injuries when the PTT gas pipeline exploded in the coastal Bang Bo district. The prime minister has also…
- Economy News
Second company in Thailand to be granted license to import natural gas
In a step to cut down energy costs, Thai Gulf Energy Development Company says that they have obtained a government license to import up to 1.7 million tonnes of liquefied natural gas (LNG) per year. As Thailand moves to free up its natural gas market and position itself as a regional trading hub for LNG, Thai Gulf Energy has been reported…
- Business News
Thailand considers petroleum reserve amid oil price volatility
Thailand is considering various strategies to mitigate the impact of global crude oil price fluctuations, beyond merely subsidising domestic oil prices through the dwindling Oil Fuel Fund. One proposed solution is the development of a strategic petroleum reserve (SPR) to enhance national oil security and safeguard against potential supply disruptions caused by geopolitical conflicts. Energy Minister Pirapan Salirathavibhaga suggested the…
- Thailand News
EGCO boosts investment to expand power capacity by 1,000MW
Electricity Generating Plc (EGCO), part of the Electricity Generating Authority of Thailand (EGAT) plans to boost its investment budget this year to acquire more assets, aiming to add 1,000 megawatts (MW) of new power generation capacity each year. The company has already added 370MW from operational power plants, leaving an additional 630MW needed to hit its target. As of yesterday,…
- Business News
Thailand’s solar panel tax cut scheme to save households on bills
A new tax reduction scheme aimed at encouraging households to install rooftop solar panels is expected to be finalised by mid-year, announced the Department of Alternative Energy Development and Efficiency (DEDE). The initiative seeks to lower electricity bills and reduce carbon dioxide emissions. Households that purchase solar panels with a power generation capacity of less than 10 kilowatts, costing under…
- Thailand News
Thai government greenlights energy subsidies and price caps
Subsidies on electricity bills for vulnerable groups and caps on cooking gas and diesel prices have received the green light from the Thai government. The move aimed to alleviate the burden of burgeoning energy costs on the population. Deputy government spokesperson Rudklao Intawong Suwankiri disclosed that diesel prices will now be fixed at 33 baht per litre, from April 20…
- Business News
PTT assures adequate LNG reserves to beat heat in Thailand
With summer temperatures expected to soar, PTT Plc, Thailand’s national oil and gas conglomerate, has assured that its liquefied natural gas (LNG) reserves are up to the task of meeting the country’s increased electricity demand. In Thailand, 60% of the fuel used for electricity generation is gas. As a result, PTT is prepared, with gas reserves of 6 billion cubic…
- Thailand News
TCC proposes temporary power tariff reduction for Thai households
The Consumers Council (TCC) has proposed a temporary reduction in power tariffs to alleviate the financial strain on Thai households during the summer’s peak demand. This request follows the Energy Regulatory Commission’s (ERC) suggested alterations to the current power rate, which critics argue would not result in cheaper electricity bills. Critics contend that the ERC’s adjustments primarily aim to lessen…
- Business News
Thailand and Cambodia reignite talks on joint petroleum production
The Petroleum Exploration and Production Industry Club has shown its full support to the renewed efforts of the government to kickstart the oft-stalled talks on joint petroleum production between Thailand and Cambodia. The talks revolve around the Overlapping Claims Area (OCA), located in the Gulf of Thailand. Nipatsin Yimyam, the club’s chairman under the Federation of Thai Industries, stated their…
- Thailand News
Thailand’s household electricity tariffs remain unchanged
Energy Minister Pirapan Salirathavibhaga affirmed that electricity tariffs for households in Thailand will remain unchanged from May to August, maintaining the current rate of 4.18 baht per unit. Pirapan, also serving as a deputy prime minister, explained that this decision has been made possible due to the continuation of gas production in the Gulf of Thailand by PTT Exploration and…
- Business News
Red Sea attacks reshape global oil market towards regionalisation
The global oil market is becoming increasingly regionalised due to militant attacks in the Red Sea and skyrocketing freight rates making more local supplies desirable. A decrease in tanker traffic through the Suez Canal is encouraging a divide, with one trading area centred around the Atlantic Basin, including the North Sea and the Mediterranean, and another focused on the Persian…
- Thailand News
Power play: Energy minister’s plan sparks potential for across-the-board cost cuts
Energy Minister Pirapan Salirathavibhaga unveiled a plan that could slash energy costs across the board. Pirapan declared yesterday, January 3, that a paradigm shift is imminent in the gas supply sector, aiming to empower power producers and significantly cut down on electricity expenses. The key? A strategic merger of gas pools to unleash a domino effect that could alter the…
- Thailand News
Thailand and Cambodia to resume talks over disputed Gulf region
February will see the reignition of talks between Thailand and Cambodia regarding a disputed region in the Gulf of Thailand, spanning 26,000 square kilometres. This area, rich in energy resources, is a matter of contention as both nations lay claim to it. Experts suggest that the discussions should primarily concentrate on the mutual development of energy resources in the Overlapping…
- Thailand News
Electricity tariffs: Potential 6 baht/unit increase expected next year
The Energy Regulatory Commission (ERC) proposed three options for determining electricity tariffs for the first quarter of next year. The electricity tariffs could potentially increase to a peak of 6 baht per unit. The ERC disclosed that if there are proposals lower than these three options, it would have to reconvene for further discussions today. Komkrit Tantravanich, Secretary-General of the…
- Business News
PTTEP plans Middle East expansion for greater petroleum output and renewable energy
PTT Exploration and Production Public Company Limited (PTTEP) announced its strategic plans to centre business operations in the Middle East to expand petroleum output and explore opportunities for innovative energy enterprises, revealed Montri Rawanchaikul, PTTEP’s Chief Executive and President. On the domestic front, the company aims to escalate gas production at the Erawan gas field to 800 million standard cubic feet…
- Business News
Map Ta Phut port to see third phase by 2027, IEAT confident
Reports from Thailand indicate that the Industrial Estate Authority of Thailand (IEAT) remains optimistic about presenting the third phase of development of the Map Ta Phut deep-sea port in Rayong by the year 2027. The port, a notable part of ongoing development in the Eastern Economic Corridor (EEC), is seen as an essential addition to Thailand’s infrastructure. Map Ta Phut…
- Economy News
Thailand’s data centre sector poised for explosive growth with global tech titans and cloud nine prospects
In a surge of digital enthusiasm, Thailand’s data centre industry is set to experience substantial expansion within the next two years, thanks to the arrival of worldwide tech giants and cloud service providers. This prediction comes from ST Telemedia Global Data Centres (Thailand) (STT GDC Thailand), a dominant player in hyper-scale data operations. STT GDC Thailand, a fruitful joint venture…
- World News
Malaysia’s NIMP2030 to boost economic complexity, targeting key sectors
The Ministry of Investment, Trade and Industry in Malaysia is working on the New Industrial Master Plan 2030 (NIMP2030) to drive industrial development and increase the nation’s economic complexity. Set to launch in August, NIMP2030 aims to align with the New Investment Policy (NIP), which has identified five key sectors for enhancing future exports of complex products. These sectors include…
- Business News
Vietnam PM approves $134.7bn power plan, unlocking G7 green-transition funds
Vietnam’s Prime Minister Pham Minh Chinh has approved a power development plan requiring US$134.7 billion of funding for new power plants and grids, a move that could potentially unlock billions of dollars in foreign investment. The plan, known as PDP8, aims to ensure energy security for the Southeast Asian country while transitioning from its current heavy reliance on coal to…
- Business News
Rising electricity bills spark energy policy debate ahead of Thai general election
High electricity bills have become a significant concern for voters, leading political parties to focus on their energy policies as they look to gain support in the upcoming general election. This comes after a new power tariff of 4.70 baht per kilowatt-hour took effect, which has resulted in costlier electricity bills for consumers. The Energy Regulatory Commission decided to reduce…
- Thailand News
Thailand accelerates shift to renewables amid global energy crisis fallout
The global energy crisis has prompted Thailand to accelerate its transition to renewable energy after years of hesitation, joining other countries in adopting wind and solar power to reduce dependency on imported fuels. Thailand’s reconsideration of its renewable energy strategy came after a surge in natural gas prices last year caused by Russia’s invasion of Ukraine, according to Wattanapong Kurovat,…
- Thailand Weather Updates
Thailand’s heatwave nears end, rainy season looms
Thailand’s hot season approaches its conclusion as the rainy season is set to begin in mid-May, according to the country’s Meteorological Department. The hot season peaked on April 15, when the temperature reached a record high of 44.6°C in Tak. Deputy director-general Thanasit Iam-ananchai has stated that throughout the weekend, daily heat indices or apparent temperatures are anticipated to surge…
- Economy News
ERC’s tariff cut to benefit households
The Energy Regulatory Commission (ERC) is anticipated to reveal a decrease in fuel tariffs (Ft) from May to August today, resulting in a drop in power tariff rates for households to 4.70 baht per kilowatt-hour unit from the current 4.77 baht per unit. This decision comes in response to public outcry over surges in electricity bills during the summer months,…
- Economy News
Outrage as energy bills rise for households, drop for industry
The government has come under fire for its latest revision of electricity pricing, with accusations that it will reduce energy bills for various industries but raise those of households. The Energy Regulatory Commission (ERC) has decided to increase power bills for households from 4.72 baht per kilowatt-hour (unit) to 4.77 baht. Industry will also be charged 4.77 baht, but that’s…
