Thailand’s largest energy firm, state-controlled PTT Public Company Limited (SET: PTT) is targeting to ramp up its LNG import from Oman to 800,000 tons a year.
The company officially announced the signing of a five-year deal to buy liquefied natural gas (LNG) from Oman last Thursday. Meanwhile, further details were confirmed by Reuters after talking to the company that the deal will be for 300,000 metric tons of LNG per year, and will begin in 2025.
PTT has disclosed ongoing discussions with Oman LNG regarding a potential nine-year supply agreement for 800,000 tons annually starting in 2026. The deal is currently in the negotiation phase, as per the official announcement.
As Southeast Asia’s primary LNG importer, Thailand imported a record volume of 11.7 million tons during the previous year, based on data provided by Kpler.
