PTT to supply natural gas to Egat for 10 years

By THE NATION

 

Energy Minister Sontirat Sontijirawong

 

Oil and gas conglomerate PTT Plc will sign a contract with the Electricity Generating Authority of Thailand (Egat) on June 19 to sell natural gas to the state agency for 10 years, Energy Minister Sontirat Sontijirawong said.

 

Under the pact, PTT will procure natural gas for Egat’s power plants. The contract also allows Egat to import a million tonnes of liquefied natural gas for use in its plants.

 

Separately, the Energy Policy Administration Committee has decided to change the calculation formula of the ex-refinery price of oil effective from Wednesday. The revision will see 50 satang per litre on average drop in the price of all fuel types.

 

The committee also resolved to extend the subsidy on cooking gas to September 30 from the original expiration date of June 24.

 

Under the existing subsidy, a 15-kilogram gas canister goes for Bt318, which is Bt45 cheaper than normal.

 

Source: https://www.nationthailand.com/business/30389716

 

-- © Copyright The Nation Thailand 2020-06-17

 

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Wow. A state owned by majority share corporation supplying a Stated owned Authority. All in the family.

When a country has state-owned enterprises contracting with other state-owned enterprises, what the sense?

Especially if and when it comes to contract enforcement and/or corrupt practices?

6 hours ago, Srikcir said:

When a country has state-owned enterprises contracting with other state-owned enterprises, what the sense?

Especially if and when it comes to contract enforcement and/or corrupt practices?

Because the majority of Thai do not know this so think the Government is doing something substantial. But it is essentially pulling the wool over most everyone's eyes. 

 

And think of this. EGAT Savings and Credit Cooperative are a major major share holder in PTT.

 

Tangled web they weave feeding the Elite and Snort trough. Sales generates income and all share holders get a cut major - Medium - Small fish. Don't figure!

6 hours ago, holy cow cm said:

Wow. A state owned by majority share corporation supplying a Stated owned Authority. All in the family.

Its a dysfunctional family. The idea they even trying to play nice together is a big achievement. Of course, EGAT should simply be able to procure its own, and is allowed to these days by law to import it (from memory!), but the landmines in Thai politics means that PTT has won the day for now in keeping a tight hold of the market.

4 minutes ago, samran said:

Its a dysfunctional family. The idea they even trying to play nice together is a big achievement. Of course, EGAT should simply be able to procure its own, and is allowed to these days by law to import it (from memory!), but the landmines in Thai politics means that PTT has won the day for now in keeping a tight hold of the market.

More tangled than that. Everyone is connected in each others shares. So many sub and side companies set up with so many shareholder fish snorting at  the trough. It is like they are feeding themselves like all in the elite controlled organization.

Edited June 17, 20206 yr by holy cow cm

???? What am I missing? to me it makes perfect sense to use PTT rather than imported gas!

If the "gas" was imported the level of corruption would doubtless be higher than it currently is, PTT is an excellent well run company, ranking about 80 on in the fortune 500 companies, though sure many wont want to recognise this fact. ???? 

19 minutes ago, CGW said:

???? What am I missing? to me it makes perfect sense to use PTT rather than imported gas!

If the "gas" was imported the level of corruption would doubtless be higher than it currently is, PTT is an excellent well run company, ranking about 80 on in the fortune 500 companies, though sure many wont want to recognise this fact. ???? 

I would take a look at the share holders for both of them as in the big majority to the medium to the smaller fish. They are feeding themselves and the money is generated from who? 

6 hours ago, CGW said:

???? What am I missing? to me it makes perfect sense to use PTT rather than imported gas!

If the "gas" was imported the level of corruption would doubtless be higher than it currently is, PTT is an excellent well run company, ranking about 80 on in the fortune 500 companies, though sure many wont want to recognise this fact. ???? 

Your missing plenty. EGAT importing gas allows for competition. PTT have been resisting this for about a decade.

 

As for their being no corruption at PTT...555

12 hours ago, samran said:

Your missing plenty. EGAT importing gas allows for competition. PTT have been resisting this for about a decade.

 

As for their being no corruption at PTT...555

Importing gas increases "imports" money out of the country, as for saying no corruption at PTT, where did I say that? do you think if gas was imported that it would be corruption free, just give more people a chance to make money, or would they not be corrupt? 555