A unit of Geneva-based energy and LNG trader Gunvor has signed a term LNG supply deal with Hin Kong Power, a joint venture owned by Gulf Energy Development and Ratch Group.
Under the deal, Gunvor Singapore will supply HKH with about 0.5 million tons per year of LNG on a DES basis.
The LNG supplies will satisfy HKH’s LNG/gas demand in Thailand, Gunvor said in emailed statement.
Gunvor did not provide any additional details.
Back in 2020, Gulf Energy Development secured licences from the government of Thailand to import LNG as part of its plans to reduce power prices in the country.
The company’s JV with Ratch Hin Kong Power won a license to import 1.4 mtpa of LNG to supply a power plant with capacity of 1,400 megawatts, located in Hin Kong subdistrict.
In addition, Gulf Energy Development and PTT Tank Terminal, a unit of PTT, are developing an LNG import terminal in Map Ta Phut with a capacity of 10.8 million tonnes per annum.
Earlier this year, Saipem and its partner CTCI completed PTT’s Nong Fab LNG import plant in Thailand, the country’s second such facility.
This 7.5 mtpa terminal adds to PTT’s first Map Ta Put LNG terminal (LMPT 1) with a capacity of 11.5 mtpa.
Data by GIIGNL shows that Thailand boosted its LNG imports last year by 26 percent to 8.27 million tons with most of the supplies coming from Qatar and Australia.