Thai PTT signs deal with Malaysia's Petronas for LNG imports

OCT 20, 20152:37 PM

[BANGKOK] PTT Pcl, Thailand's top energy firm, said it has signed a long-term contract with Malaysia's Petronas to import 1 million tonnes of liquefied natural gas (LNG) a year to secure the country's gas supply.

State-controlled PTT plans to secure 70 per cent of its LNG need through the long-term contract, with the remaining 30 per cent from spot markets, Chairman Piyasvasti Amranand told reporters.

The country's energy policy makers have approved plans for PTT to import LNG in long-term contracts from three suppliers - Qatar Liquefied Gas Co Ltd, Shell Eastern Trading and BP Singapore Pte Ltd.

REUTERS