Bangkok: PTT Public Company Limited has announced a significant step forward in securing future energy supplies through a newly signed joint agreement with 8 Star Alaska, LLC. This development, aimed at studying the long-term procurement of liquefied natural gas (LNG), was marked by a ceremony presided over by Dr. Prasert Sinsukprasert, Permanent Secretary of the Ministry of Energy.
According to Thai News Agency, the ceremony saw the presence of notable figures including Mr. Robert F. Godec, U.S. Ambassador to Thailand, and key executives such as Mr. Sompop Pattanariyangkul, Deputy Permanent Secretary, Ministry of Energy, and Mr. Brendan Duval, CEO of Glenfarne Group. This collaboration is set to bolster Thailand's LNG supply and enhance energy security, aligning with PTT Group's strategy to expand its LNG business to meet the country's rising electricity demands.
The Permanent Secretary highlighted that the agreement entails a detailed study into importing approximately 2 million tons of LNG annually from Alaska LNG over a 20-year period. This initiative is part of broader Thai-U.S. negotiations concerning import tariffs and exemplifies the strong bilateral relationship. The Thai government, alongside PTT and EGAT Group, is actively involved in this endeavor, following a visit to Alaska earlier this year. The Alaska LNG project, currently under development, is expected to take 5-8 years to complete.
The logistical advantages of importing from Alaska LNG were also noted, with shipment times anticipated to be significantly shorter compared to existing sources in the Middle East and Australia. The lead developer, Glenfarne, is spearheading the $44 billion Alaska LNG project, which aims to produce substantial gas volumes for international markets. Central to this project is the construction of an extensive pipeline to transport gas from northern Alaska to Asian customers, a decision yet to be finalized.