PTT’s liquefied natural gas terminal at Map Ta Phut industrial estate in Rayong province. (Photo: Apichart Jinakul)
A global energy crunch is sending liquefied natural gas (LNG) prices skywards, but Thailand needs to ramp up its purchases to offset a steep production fall at its largest gas field and as sanctions threaten supplies from Myanmar.
The Southeast Asian country has little choice but join the scramble for alternative gas supplies at a time European demand is rising. Buyers there are rushing to secure cargoes to replace Russian gas and LNG as the Ukraine war intensifies.
The shortfall for Thailand, a net oil and gas importer who last year relied on imports for nearly 75% of its electricity, crude oil, coal and natural gas needs, could become more onerous as prices continue to soar.
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