PTT plans to develop a second receiving terminal for liquefied natural gas (LNG) with a capacity of 5 million tonnes a year, possibly to be located outside the Map Ta Phut industrial estate.
Chief executive Pailin Chuchottaworn said his company is conducting a feasibility study for a second receiving terminal, which would help to triple PTT’s LNG capacity to 15 million tonnes a day after 2020.
Gasification from LNG will enable 2.1 billion cubic feet per day, up from 700 million cfpd at present.
PTT debuted the first phase of its US$900-million LNG receiving terminal at Map Ta Phut last year, featuring a capacity of 5 million tonnes per year.
It is preparing the second phase _ adding another 5 million tonnes per year _ at a cost of 25 billion baht.
Construction of the second phase will likely kick off this year.
When completed, annual capacity will be doubled to 10 million tonnes or 1.4 billion cfpd.
Mr Pailin said gas demand in Thailand is expected to rise to 5.2 billion cfpd in 2016 from an average of 4.2 billion cfpd in this year’s first quarter. Demand is expected to surge to almost 7 billion cfpd by 2030.
Local gas production from on- and off-shore petroleum fields is expected to peak in 2015 at 3.6 billion cfpd from 3.3 billion cfpd currently.
Peerapong Achariyacheevin, the senior executive vice-president for gas business at PTT, said the second phase of the first unit is expected to start operation in 2016.
PTT is also set to secure an LNG purchase deal for 2 million tonnes a year from the state-owned Qatar Gas. It plans to purchase another 3 million tonnes per year from producers in Australia, Africa and the US, he added.
The national power development plan predicts electricity production capacity will rise to 55,065 megawatts in 2030 from an estimated 32,630 MW this year.
In 2030, natural gas is to make up less than half the energy mix in the country from 72% of all fuel used in power generation in Thailand now.
Renewable energy will contribute 25%, up from 5% now; nuclear power 5%, up from zero; and 20% from imported electricity and coal.
PTT shares closed yesterday on the SET at 308 baht, unchanged, in heavy trade worth 1.14 billion baht.
Source: http://www.bangkokpost.com/business/economics/297082/ptt-mulls-second-lng-terminal-at-map-ta-phut
