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Brunei LNG and PTT announced the signing of the new SPA in separate statements on Friday.
The official signing of the second long-term LNG SPA between Brunei LNG and PTT International Trading (PTTT), a subsidiary of Thailand’s national energy company, PTT, took place on May 26 at PTT’s headquarters in Bangkok, Thailand.
However, the two firms did not provide any further details regarding the new agreement.
In 2024, the two firms signed the first SPA, saying that the five-year deal would start in 2025 and end in 2029.
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.
“The conclusion of this second SPA reflects the strong trust, close collaboration, and shared commitment that form the foundation of the relationship between BLNG and PTTT,” Brunei LNG said.
PTT said the signing of the new SPA is another “significant” step in strengthening ASEAN energy cooperation and enhances PTT’s LNG portfolio management capabilities, ensuring balance and flexibility in energy supply to meet both domestic and international market demands.
It also aligns with PTT’s strategy of focusing on long-term energy security and securing reliable LNG sources amidst rapidly changing global market conditions, the company said.
PTT aims to increase its LNG portfolio to 15 million tonnes per year by 2035 as it aims to become a global LNG player.
Thailand currently 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.
Since March, PTT has accelerated spot LNG procurement from sources outside the Middle East to offset supply disruptions caused by the conflict there.
The company also aims to increase LNG supplies under a long-term deal it has with US LNG exporter Cheniere.
