ID :
345714
Fri, 10/24/2014 - 10:31
Auther :

Authority:Thailand needs to explore new petroleum sources

BANGKOK, October 24 (TNA) - The Ministry of Energy says Thailand needs to explore more petroleum sources to meet increasing domestic demand. Deputy Permanent Secretary for Energy Kurujit Nakornthap told journalists of the information on Friday, explaining that, based on the country's existing natural gas reserve in the Gulf of Thailand, it could be used only over the next 4.9 years. Kurujit pointed out if imported natural gas from neighbouring Myanmar was taken into account, plus current prices of liquefied natural gas (LNG), Thailand's natural gas supply could last over the next 6–8 years only. Elaborating why it is now necessary for Thailand to call for a new round of auction for petroleum exploration, Kurujit said the country's proven natural gas reserve stood at 8.4 trillion cubic feet at the end of 2013, while annual domestic demand has been about 1.7 trillion cubic feet. According to the senior official, Thailand organised the first auction for petroleum concession in 1971 and similar auctions had been usually followed every two-three years, with the last auction held in 2007. The senior official acknowledged that the 21st round of petroleum auction has been delayed due to opposition over the past years. The senior official stated that information available now shows there are no new confirmed natural gas sources, while Myanmar has a policy not to export natural gas in the future, and if Thailand had to import the entire LNG for domestic consumption, it would affect investors because electricity fee would be very high. But the senior official suggested that Thailand now discuss with Cambodia on jointly developing an overlapping area in the Gulf of Thailand. The senior official's remarks were in response to an opposition to a proposal, raised by a people network group for the government to organise the 21st round of auction for petroleum concessions, voiced by a National Reform Council NRC member, Manoon Siriwan, claiming that the proposed plan is not practical because the NRC’s works are involved with national reform with long-term plans but the planned 21st round of petroleum auction concerns the government’s administrative work. Manoon indicated if every ministerial issue had to be discussed or debated by the NRC, the interim government would not be able to work and it would cause damage to the nation. (TNA)

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