Thailand's EGAT to import first spot market LNG cargo
State-owned Electricity Generating Authority of Thailand (EGAT) will import its first spot market cargo of liquefied natural gas (LNG) in December, the Thai Energy Ministry said.
The utility will import two LNG cargoes, each of 65,000 tons, one in December and the second in April, Energy Minister Sontirat Sontijirawong said in a statement.
He said December spot prices were “not that high” and the first import would serve as part of an initial test run.
EGAT said this month that about 40 companies had expressed interest in supplying Thailand with spot LNG.
EGAT now buys gas from a state-owned unit of PTT, Thailand’s sole gas supplier and LNG importer. EGAT finalised a deal this year with PTT LNG for 1.5 million tonnes per annum (mtpa) of regasification capacity at Thailand’s sole LNG receiving terminal.
EGAT is still negotiating contract terms with Malaysia’s Petronas for a separate longer-term contract to import LNG.
Reporting by Patpicha Tanakasempipat; Editing by Edmund Blair
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