PTT to invest about 40 billion baht on LNG terminals

BANGKOK, May 5 (TNA) -- PTT Public Company Limited, Thailand’s largest oil and gas conglomerate, plans to invest about 40 billion baht on building its second liquefied natural gas (LNG) terminal and on expanding capacity of its first terminal, said Noppadol Pinsupa, senior executive vice president of PTT. Mr Noppadol said PTT is prepared to follow a policy of the Committee on Energy Policy Administration (CEPA) to build a second LNG terminal in the eastern province of Rayong with a total capacity between 5 – 7.5 million tonnes. He said the planned investment is part of a five-year plan, starting 2016. Construction of the second LNG terminal is expected to start early 2018 and complete in 2022. On the plan to expand capacity of the first LNG terminal, Mr Noppadol said currently its capacity is five million tonnes/year and its capacity would be increased to 11.5 million tonnes/year upon completion in 2019. The green light given by the CEPA on the investment came after it believed that the amount of LNG imported into Thailand would soar to 22 million tonnes in line with the 20-year plan to produce electricity in Thailand. Thailand is expected to import only three million tonnes of LNG this year. (TNA)