To add on natural gas supply to the country apart from those domestic gas fields so as to meet the needs of the country’s growth and promote the use of clean energy for good environment.
Today (March 19, 2019), Mr. Chansin Treenuchagron, President and Chief Executive Officer, PTT Public Company Limited (PTT) presided over the foundation stone-laying ceremony for the construction of Liquefied Natural Gas Receiving Terminal at Nong Fab or Nong Fab LNG Receiving Terminal by PTT LNG Company Limited (PTTLNG) to support the import of 7.5 million tons of LNG per year. The terminal is scheduled to be completed and ready for storage and regasification of LNG to feed into the natural gas pipeline network in 2022.
Mr. Chansin disclosed that the Nong Fab LNG Receiving Terminal project is executed following the resolution of the National Energy Policy Council (NEPC) on May 30, 2016 to construct the project with an investment budget of Baht 38,500 million to increase the capacity of LNG imports from 11.5 to 19 million tons per year. This will address the current decline of the natural gas reserve in the Gulf of Thailand. At the same time, the natural gas imports from neighboring countries are limited while the demand for energy in the electrical, Industrial and transportation sectors soars.
Mr. Wirat Uanarumit, Chairman of the Board of Directors, PTT LNG Company Limited added that the LNG Terminal and Receiving Station at Ban Nong Fab, Map Ta Phut Sub-district, Rayong Province on an area of 182 rai, is another integrity pact project with a transparent procurement process allowing the independent observers to access at every step. It is an important project to support LNG to increase the country's reserved energy resources. Since 2011, PTT has procured LNG through spot market purchase. The amount of import has been on a rise. At present, there are four long-term LNG contracts totaling 5.2 million tons per year to provide long-term energy stability and the country with sufficient energy for use in the future.