PTT Sees Thailand As Hub For Natural Gas Development

[Jai Dee]

PTT sees Thailand as hub for natural gas development

Thailand's state-owned oil and gas conglomerate PTT Plc is determined to see Thailand become a centre for natural gas development and to increase the value-added aspect of the economy by 30 times within 2020.

Anon Sirisaengthaksin, Vice President of PTT's Corporate Strategy and Development, said the company currently plans to develop the security and efficiency of Thailand's energy sector based on natural gas.

In the past three decades, he said, PPT had succeeded in using natural gas in place of oil to produce 70 per cent of Thailand's electricity.

At present, Thailand is able to produce natural gas equivalent to 500,000 barrels of oil per day, or one-third of all the energy consumed in the country.

PTT can use natural gas to produce petrochemicals, creating value-added economic expansion by Bt200 billion annually. The company also aspires to develop the Map Ta Phut Industrial Estate into one of the world's eight great petrochemical centres.

He said PTT aimed to locate energy reserve sources both locally and overseas in preparation for the economic expansion, reduce dependence on energy imports, and enhance the value-added aspects of the natural gas-based economy by 30 times.

The company has targeted becoming one of Asia's top three energy firms and earn a position as one of the top one hundred energy firms in the world, as ranked by Fortune Magazine.

In addition, it hoped to increase profits by three to five times by counting on the natural gas business as a drive to develop maximum value-added with ASEAN becoming a major export destination.

Source: TNA - 14 August 2007

[astral]

Oh No, not another hub.................

Let's hope they do not squander the resource.

[midas]

Oh No, not another hub.................

Let's hope they do not squander the resource.

Yes ANOTHER HUB !! You gota love them havent you

[Jai Dee]

Some off-topic derogatory posts have been deleted from this thread.