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CTCI Thailand, a CTCI Group company, announced on Wednesday that it has secured EPC contracts totaling 1.8 billion baht ($55.2 million) for the Olefins 3 cold energy utilization project (OCP), a joint project by PTT Global Chemical (PTTGC) and PE LNG.
According to CTCI, a new cold energy utilization facility will be built in Thailand’s Nong Fab, Rayong, linking PTTGC’s olefins plant and PE LNG’s LNG regasification facility.
The project features a closed-loop mixed refrigerant system linking the two plants, enabling the transfer of the cold energy released during LNG regasification at the PE LNG terminal to the PTTGC plant for use in olefins cooling.
CTCI noted that the refrigerant then carries heat energy back to the PE LNG terminal to warm LNG and convert it to natural gas.
The company said this solution replaces electricity as the primary power source for the olefins cooling process, enabling a reduction of 60,000 tons of electricity-related CO2 emissions annually.
CTCI Thailand will execute EPC work for the LNG/mixed refrigerant facility, including key equipment such as heat exchangers, surge drums, vent condenser, and pumps equipped with variable speed drives, as well as the closed-loop refrigerant pipelines connecting the two plants and all associated utility systems.
The project is scheduled for completion in 2028.
PE LNG
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.
PTT’s unit PTT LNG established PE LNG in June 2023, according to PE LNG’s website.
In April 2024, PTT LNG transferred the relevant assets, liabilities, and licenses for the service operations of the Map Ta Phut LNG Terminal 2 (LMPT2) in Rayong province to PE LNG.
Subsequently, EGAT acquired a 50 percent stake in the company, effective from April 30, 2024, onwards.
