Egat to invite bids for LNG imports in first quarter of next year

By The Nation

 

 

The Electricity Generating Authority of Thailand (Egat) is expected to invite bids for procurement and import of liquefied natural gas (LNG) in the first quarter of next year, the deputy governor for fuel, Ranee Kositvanich, said.

 

 

The state authority plans imports not exceeding 1.9 million tonnes of LNG next year and 1.8 million tonnes in 2022 and 2023.

 

The Energy Policy Administration Committee chaired by Energy Minister Supattanapong Punmeechaow on November 11 acknowledged Egat's LNG procurement plan for 2021-23. The LNG will be used to generate power at its power plants in Chacheongsao, Samut Prakarn and Ayutthaya provinces.

 

Earlier, the Energy Ministry said that Egat needs to wait for the National Energy Policy Committee to approve the country's plan to restructure the natural gas sector's competition first before the state agency can go ahead with the plan to import LNG during 2021-23. The LNG competition plan is expected to get clearer early next year.

 

Source: https://www.nationthailand.com/business/30398353?utm_source=homepage&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2020-11-22

 

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Bidders should be reminded that (as I recall) the last time Egat had  an LNG contract (Malaysia) that it breached that contract when spot market price fell below contract price.

Lesson: make sure to have contract enforcement terms to "assist" Thailand to honor its LNG supply contracts.