B.Grimm Power, PTT enter Thailand LNG pact

Thailand’s B.Grimm Power said it has joined forces with a unit of state-owned oil and gas firm PTT to buy and supply LNG.

PTT Global LNG has purchased 250,000 newly issued ordinary shares in B.Grimm Power LNG JV, according to a statement by B.Grimm.

Both of the firms now have a 50 percent stake in the LNG venture.

B.Grimm says the JV would buy and supply LNG and explore other business opportunities related to the LNG value chain both domestically and internationally.

This is in order to “strengthen and enhance the capability for competitiveness and business expansion of B.Grimm Power,” the firm said.

B Grimm has last year won permission to import and trade up to 650,000 tonnes of LNG in Thailand per year from 2022. It plans to import LNG to fuel its small power plants.

The Energy Regulatory Commission has granted the license as part of a move to liberalize the country’s gas business by opening up trade to the private sector.

Thailand has last year boosted its LNG imports 12.2 percent to 5.61 million tonnes, according to GIIGNL data. The country receives LNG mainly from Qatar at PTT’s 11.5 mtpa Map Ta Phut LNG terminal.

PTT also plans to launch its Nong Fab LNG receiving terminal in Rayong, with a total capacity of 7.5 mtpa, in 2022.

Most Popular

Atlantic LNG shipping rates, European prices down

Atlantic LNG freight shipping rates and European prices decreased this week compared to the week before.

Glenfarne becomes majority owner of Alaska LNG

US energy firm Glenfarne has signed definitive agreements with state-owned Alaska Gasline Development Corporation to become the majority owner of the giant Alaska LNG export project.

Petronas to supply LNG to PetroVietnam Gas

Malaysian energy giant Petronas will supply liquefied natural gas (LNG) to PetroVietnam Gas, a unit of state-owned PetroVietnam, next month. The two firms will also look into the possibility of signing long-term LNG contracts.

More News Like This

Thailand’s B.Grimm Power to import up to five LNG cargoes this year

Thailand’s B.Grimm Power, a unit of B.Grimm, plans to import up to five liquefied natural gas (LNG) cargoes in 2025.

BBGI, Keppel, and CleanEdge in Thailand bio-LNG move

According to a statement by BBGI, the biofuel firm signed a memorandum of understanding on November 11 with engineering...

China’s CNOOC and Thailand’s PTT complete yuan-settled LNG deal

CNOOC’s gas and power unit revealed this deal with PTT International Trading (PTTT) in a statement on Monday. However, CNOOC...

Brunei LNG inks first supply deal with Thailand’s PTT

This is the first LNG supply deal between the two firms, according to PTT. PTT International Trading (PTTT), a unit...