Thailand to use more natural gas

BANGKOK, January 7 (TNA) - Thailand is likely to use more natural gas this year, totally about 5 billion cubic feet nationwide a day. Songphob Polchan, Director-General of the Ministry of Energy's Department of Mineral Fuels, said on Monday that the projected domestic consumption of natural gas this year, at some 5 billion cubic feet per day, should be a 10-per cent year-on-year increase, with some 3.8 billion cubic feet supplying from gas fields in the Gulf of Thailand and 1.2 billion cubic feet supplying from neighbouring Myanmar. To maintain the supply of natural gas in the Gulf of Thailand as long as possible, Songphob acknowledged that his ministry has set up a committee to amend the petroleum law to allow the extension of concessional periods in the Gulf of Thailand for petroleum exploration firms, like PTT Exploration and Production Public Company Limited (PTTEP), a subsidiary of PTT Public Company Limited (PTT), Thailand's largest petroleum firm, and US-based Chevron Corporation, from only twice currently, with a feasibility study on the revision of the law expected to be complete within a six-month period. According to the senior official, his ministry has also planned to open a new petroleum concession bidding, the 21st of its kind, in the Gulf of Thailand, totaling over 22 plots where natural gas reserves of up to 3-5 trillion cubic feet and 20-30 million barrels of crude oil are expected. The senior official told reporters that, to prevent insufficient natural gas supply for the domestic power production after 2018, Thailand will also increase imports of liquefied natural gas (LNG), from 5 million tonnes currently to about 10 million tonnes annually. (TNA)