PTT reassures shareholders on plan to shift to natural gas

PTT Exploration and Production Plc (PTTEP), the oil and gas drilling arm of PTT Plc, has assured its shareholders that plans to transform mobility modes from oil-powered internal combustion engines to electric vehicles (EVs) will not affect its business as the change matches the company’s long-term strategy to produce more natural gas.

Crude oil will account for around 30% of total petroleum production as the company is determined to keep gas proportions at a higher level than crude oil, Krairit Euchukanonchai, chairman of PTTEP’s board, said during a shareholders meeting yesterday.

Thailand has around 15 years to shift towards cleaner energy resources, including natural gas which is considered to be cleaner than other fossil fuels.

Phongsthorn Thavisin, the company’s chief executive officer, said Thailand will need more gas for power generation because people are…