PTT to build floating gas storage unit in Myanmar

BANGKOK, Aug 11 (TNA) – Thai and Myanmar governments will sign a memorandum of agreement (MoA) that will let PTT Plc build a floating storage regasification unit (FSRU) in Myanmar to secure gas supplies. Areepong Bhoocha-oom, Permanent Secretary for Energy, said the MoA would be signed during the ASEAN Ministers of Energy Meeting in the Philippines on Sept 26-28. Under the agreement, PTT will build the FSRU in Kanbauk, southern Myanmar. The 20-billion-baht unit will handle 3 million tons of natural gas a year and it will start to supply gas to both Thailand and Myanmar in 2027. Myanmar will not invest in the project. PTT will decide if it will bear the whole investment or find a partner. The FSRU project in Kanbauk responds to declining gas supplies from Myanmar sources. Myanmar supplies 1.05 billion cubic feet of gas from three fields a day and the supply will drop to 350 million cubic feet a day in 2023-2024. Liquefied natural gas will instead be imported to maintain electricity generation at power plants in western Thailand. (TNA)