PV GAS in Discussion with PTT Thailand on Cooperation

PV GAS’ delegation at PTT Thailand

PTT is the largest national oil and gas company in Thailand and has been the sole Thai enterprise to consistently make it onto the Fortune Global 500 list for consecutive years. Apart from traditional energy sectors, PTT is vigorously transitioning towards an environmentally friendly business model with LNG, electric vehicle batteries, and hydrogen.

With such enormous role as the national oil and gas flagship, PTT has been striving to adjust its business production strategy in alignment with the Thai Government's Bio-Circular-Green Economy Model (BCG) to achieve net-zero by 2050. PTT aims at being of great help for the authorities in national energy security.
 

Both sides showed goodwill in further cooperation

Mr. Komgrit Lohpetch, PTT’s Executive Vice President, and other seniors of PTT expressed great confidence in fostering the collaborative relations between PTT and PetroVietnam, specifically with PV GAS. The two affirmed their commitment to further enhancing cooperation in areas where both entities possess potentials and advantages, particularly in gas monetization, digital transformation, and investment/business in the LNG value chain. 

At the meeting, both companies actively exchanged information on energy development models, LNG market development orientations, specifics regarding legal/technical infrastructure in each country, advantages/challenges in LNG distribution, as well as feasible solutions tailored to the development conditions of each entity.

PV GAS at PTT’s branch in Rayong, Thailand

The delegation also visited LNG Terminals Map Ta Phut 01 and 02 in Rayong. PTT's two LNG facilities are not only hubs supplying re-gas LNG to gas-to-power plants nationwide but also envisioned as the LNG trading center for the entire Southeast Asian region. As the largest LNG infrastructure system in Southeast Asia, with synchronized and cutting-edge storage tanks, and control systems, the Map Ta Phut 01 and 02 have a combined capacity of over 1.1 million cubic meters and can handle approximately 19 million tons of LNG per annum, making up for the declining domestic supply in the country.

Natural gas accounts for 53.11% of the input for electricity generation in Thailand, with imported LNG contributing 28.75% (Energy Regulatory Commission of Thailand (ERC), 2022). Given the similarities in certain aspects of the gas industry, PTT will aid PV GAS in enhancing the management capacity of the 1MMTPA Thi Vai LNG Terminal currently operational, as well as other LNG terminal projects undertaken by PV GAS.
 

PV GAS paid a visit to PTT’s LNG facilities

Leaders from both sides reached an agreement to maintain official communication channels with the aim of concretizing potential collaborations that align with management capabilities, investment capacities, development directions, and benefits for both PTT and PetroVietnam/PV GAS.