PTT Inks Long-term LNG Supply Deal with Oman
PTT International Trading has signed a five-year contract to buy 300,000 tonnes of LNG from Oman to stabilize gas prices. Starting from 2025, the deal aims to support Thailand's LNG market growth and establish the country as an LNG trading hub in Asean. Negotiations for a separate nine-year deal for 800,000 tonnes per year beginning in 2026 are also ongoing.
PTT International Trading, a subsidiary of PTT Plc, has signed a five-year contract to buy 300,000 tonnes of liquefied natural gas (LNG) from Oman.
The deliveries will commence in 2025 and continue through 2029.
This procurement aims to mitigate short-term gas price fluctuations impacting Thailand's electricity costs.
Pongpun Amornvivat, PTT's senior executive vice-president for international business, highlighted that the deal supports Thailand's goal to become an LNG trading center in Asean and strengthens PTT's international trade potential.
The signing ceremony was attended by Pongpun Amornvivat and Hamed Al Naamany, CEO of Oman LNG.
Negotiations are also underway for a separate nine-year contract for 800,000 tonnes annually starting in 2026.
The deliveries will commence in 2025 and continue through 2029.
This procurement aims to mitigate short-term gas price fluctuations impacting Thailand's electricity costs.
Pongpun Amornvivat, PTT's senior executive vice-president for international business, highlighted that the deal supports Thailand's goal to become an LNG trading center in Asean and strengthens PTT's international trade potential.
The signing ceremony was attended by Pongpun Amornvivat and Hamed Al Naamany, CEO of Oman LNG.
Negotiations are also underway for a separate nine-year contract for 800,000 tonnes annually starting in 2026.
