Saudi Aramco, PTT ink LNG cooperation deal

Energy behemoth Saudi Aramco said it has signed a deal with Thailand’s state-owned oil and gas firm PTT to strengthen cooperation in several fields, including LNG, as it expands its downstream presence in Asia.

The two companies signed a memorandum of understanding at a ceremony in Bangkok on May 11, according to a statement by Aramco.

Aramco said the companies aim to strengthen cooperation across crude oil sourcing and the marketing of refining and petrochemical products and LNG.

Other potential areas of activity include blue and green hydrogen and various clean energy initiatives, it said.

The firm did not provide any additional information.

PTT operates the Map Ta Phut Terminal 1 which it renamed last year. The LNG import facility in Rayong province has a capacity of 11.5 mtpa.

Earlier this year, PTT signed a terminal use deal under which B.Grimm LNG, a unit of B.Grimm Power, would become the first private firm to import LNG into Thailand.

Besides this facility, PTT is also building the Nong Fab LNG receiving terminal in Rayong, also renamed to Map Ta Phut Terminal 2.

In February 2022, Electricity Generating Authority of Thailand (Egat) and PTT formed a joint venture to co-invest in the project each with a 50 percent share, according to GIIGNL data.

This 7.5 mtpa terminal should start operations later this year.

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