LNG Journal editor
Thailand is building a new LNG import terminal near the current Map Ta Phut terminal in eastern Rayong province with the first phase costing 28 billion baht ($913 million) and involving a joint venture between Thai power company Gulf Energy and state-owned Thai energy firm PTT.
However, the Thai government said that the driving force behind the venture would be the state’s Industrial Estate Authority of Thailand (IEAT) and the new onshore terminal project would be called the Map Ta Phut Phase 3 Project.
It would include the signing of the Public Private Partnership (PPP) contract with the joint venture established by the Gulf PTT Tank Consortium and PTT.
Gulf Energy would own 70 percent of the terminal project and PTT would hold 30 percent.
The Gulf Group manages a portfolio of gas-fired and renewable power projects that serve both the Electricity Generating Authority of Thailand (EGAT) and private customers in Thailand’s main industrial zones. Currently, Gulf Energy has 25 power projects in operation in Thailand,
including gas-fired and other thermal and renewable facilities and two solar projects in Vietnam.
“The construction period of infrastructure will not exceed three years ,” said the government on the LNG terminal building schedule.
“The project including a port and the LNG terminal would be built on reclaimed land to facilitate shipments of LNG volume of not less than 5 million tonnes per annum (for LNG terminal phase 1) and up to 10.8 MTPA at a later stage,” it added.
The LNG terminal phase 1 has an investment cost not exceeding 28 billion baht and is expected to be completed by 2023. The whole terminal would be completed by 2025 with a total cost put at 40.9 billion baht ($1.3Bln).
The existing import terminal at Map Ta Phut has 11.5 MTPA and has been in operation since 2011 with cargoes imported from nations such as Qatar, Trinidad and the US.
Energy firm PTT’s subsidiary, PTT Exploration and Production (PTTEP), is expecting more LNG volumes from Mozambique where it has a stake in the southeast African nation’s onshore production plant.
Additionally, PTTEP has purchased natural gas assets offshore Malaysia from Murphy Oil of the US, giving the Thais a stake in a floating LNG project planned by Malaysian energy company Petronas.
Thailand has said that its current LNG strategy is underpinned by plans to develop new markets in neighbouring southeast Asian countries and also includes small-scale LNG ventures.
The Thai government said the new LNG terminal at Map Ta Phut was one of “five mega infrastructure projects of the Eastern Economic Corridor”, including high-speed train links to Bangkok and U-Tapao airports, the expansion of U-Tapao airport and the extension of the Lam Chabang deep sea port.Previous:
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