Advertisements

Thailand to Boost Gas Production, Imports from Neighbors

by Krystal

Thailand is strategizing to boost domestic gas production and increase purchases from neighboring countries in a bid to lessen reliance on liquefied natural gas (LNG) amidst anticipated rising gas demand in Asia.

Under the newly reviewed 2024 national gas plan, gas extraction at the Pailin and Arthit fields in the Gulf of Thailand will be ramped up. Simultaneously, imports of natural gas from Myanmar and the Malaysia-Thailand Joint Development Area will continue.

Advertisements

According to Wachara Phajee, who heads the natural gas unit at the Energy Policy and Planning Office (EPPO), the 2024-2037 national gas plan is integral to Thailand’s broader energy strategy, encompassing alternative energy development, power expansion, energy efficiency, and oil management. The plan is slated for submission to the National Energy Policy Council for approval this year.

Advertisements

Phajee highlighted projections indicating a 1.7% annual increase in Thailand’s gas demand, reaching 4,945 million standard cubic feet per day (MMSCFD) by 2030, up from an estimated 4,859 MMSCFD in 2024. Failure to enhance domestic production or augment imports from neighbors would necessitate increased LNG imports.

Advertisements

Currently, Thailand allocates 62% of its gas supply to power generation, with 18% utilized by gas separation facilities, 17% by industry, and the remaining 3% by the transport sector.

Advertisements
Advertisements
Advertisements

You may also like

oftrb logo

Oftrb.com is a comprehensive energy portal, the main columns include crude oil prices, energy categories, EIA, OPEC, crude oil news, basic knowledge of crude oil, etc.

【Contact us: [email protected]

© 2023 Copyright oftrb.com – Crude Oil Market Quotes, Price Chart live & News [[email protected]]