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.

- Advertisements -

Most Popular

Golden Pass LNG contractor Zachry files for bankruptcy

US construction company Zachry said on Tuesday it has filed for bankruptcy, initiating a structured exit from the Golden...

Kinder Morgan secures more time for Gulf LNG export project

US energy company Kinder Morgan and its partners have secured more time from the US FERC to add liquefaction...

Hoegh LNG: commissioning of Brazilian FSRU completed

Commissioning of the FSRU Hoegh Giant which serves Cosan's LNG import terminal in Brazil's port of Santos has been...

More News Like This

Thailand’s Gulf, Ratch launch first unit at Hin Kong power plant

Thailand’s Gulf Energy Development and Ratch launched the first gas-fueled unit at their Hin Kong power plant following the...

Thailand’s Gulf Energy to receive first LNG shipment

Thailand's Gulf Energy Development expects to receive this month the first LNG shipment to supply Hin Kong Power's plant. "At...

Bangchak launches Thailand’s first LNG station

Thailand's energy firm Bangchak has opened what it says is the first LNG refueling station for vehicles in Thailand. The...

Saipem and CTCI wrap up work on PTT’s Nong Fab LNG terminal in Thailand

Italian contractor Saipem and its partner CTCI have completed PTT’s Nong Fab liquefied natural gas (LNG) import plant in...