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This is the first LNG supply deal between the two firms, according to PTT.
PTT International Trading (PTTT), a unit of state-owned PTT, signed the LNG sale and purchase agreement with Brunei LNG on September 5 in Brunei.
The five-year deal will start in 2025 and end in 2029.
It said this contract will enhance PTT’s international trade potential, support the growth of the LNG market, and prepare the country to become an LNG trading hub in the ASEAN region, in line with PTT’s mission to create energy security.
PTT did not provide further information regarding the deal.
Brunei LNG said in a separate social media post it is “committed to building a robust and lasting partnership with its first Thai counterpart, PTTT.”
“This partnership represents our commercial achievement, and a strategic collaboration that amplifies the link between Brunei and Thailand, highlighting Brunei LNG’s steadfast commitment to maintain its reputation as a reliable supplier for energy security, addressing Thailand’s rising LNG demand,” it said.
Prior to this deal, PTT’s unit signed a five-year deal with Oman LNG, but it also did not provide the volumes.
Local media reports suggest Oman LNG will supply 300,000 tonnes of LNG per year.
Thailand imports LNG via two import terminals operated by PTT.
These terminals include the first Map Ta Put LNG terminal (LMPT 1) with a capacity of 11.5 mtpa and the second Map Ta Phut LMPT2 LNG terminal, also known as the Nong Fab LNG terminal, with a capacity of 7.5 mtpa.
On the other hand, Brunei LNG’s export plant in Lumut, one of the world’s oldest LNG export facilities, has a capacity of 6.7 mtpa.
Shell and Mitsubishi each have a 25 percent share in the facility, while the Brunei government holds 50 percent.
This facility mostly ships LNG to Japan.