Thailand’s Gulf Energy and PTT to build US$1.33b LNG project with the government

A liquefied natural gas tanker at the Karratha gas plant loading terminal in the north of Western Australia. Thailand’s Gulf Energy Development Pcl and state-owned PTT Pcl will build a gas terminal and port on the country’s east coast. — AFP pic
A liquefied natural gas tanker at the Karratha gas plant loading terminal in the north of Western Australia. Thailand’s Gulf Energy Development Pcl and state-owned PTT Pcl will build a gas terminal and port on the country’s east coast. — AFP pic

BANGKOK, Oct 1 — Thailand’s Gulf Energy Development Pcl and state-owned PTT Pcl will build a 40.9 billion baht (RM54.5 billion) gas terminal and port on the country’s east coast, the Industrial Estate Authority of Thailand (IEAT) said today.

The government says its investment partnership with the Gulf MPT LNG Terminal Company Limited — a between a subsidiary of Gulf Energy with a 70 per cent stake and a unit of PTT with a 30 per cent stake — will bring more investment to the industrial east and boost economic growth.

Commercial operation of the project is scheduled to start by 2025.

The project will include the design and construction of the port and a liquefied natural gas terminal that will have an annual capacity of at least five million metric tonnes per year in the first phase and up to 10.8 million tonnes per year at a later stage, Gulf Energy said today.



The project is “one of five mega infrastructure projects of the Eastern Economic Corridor,” and will help create a “seamless transportation network” between Thailand and neighbouring countries, Deputy Prime Minister Somkid Jatusripitak said.

Other mega infrastructure projects include a high-speed train linking two of Bangkok’s international airports with U-Tapao airport in eastern Thailand; the expansion of U-Tapao airport; and the expansion of the Lam Chabang deep sea port.

Thailand’s industrial east is already home to foreign auto manufacturers such as Toyota, Honda and Ford and also houses petrochemical and electronic companies. — Reuters

Source: The Malay Mail Online





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