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In August 2024, B.Grimm LNG, a unit of B.Grimm Power, imported 65,000 tons of LNG via PTT’s Map Ta Phut LNG terminal 1 (LMPT1) in Rayong province.
The firm purchased its first LNG cargo from Japan’s Sumitomo.
With this shipment, B.Grimm Power became the first private company in Thailand to import LNG for distribution to small power producers (SPP), according to the firm.
“B.Grimm LNG Limited imported two LNG cargoes in October and December, and a total of three cargoes of 198,000 tonnes throughout 2024 to fuel our SPPs through the pool gas system,” B.Grimm Power said in its 2024 results report.
The company said that the Thai economy is expected to grow near the previous assessment, at 2.7 percent in 2024 and 2.9 percent in 2025.
Moreover, key growth drivers include tourism, boosted private consumption supported by government stimulus, and a rise in exports driven by increased demand for electronics, B.Grimm Power said.
However, recovery remains uneven across sectors, with some merchandise exports, manufacturing, and SMEs facing pressures from structural challenges, the firm said.
“The SPP gas cost guideline is projected to range between THB 320-350/MMBtu, which is about the same range as it was in 2024, where the actual SPP gas cost ended up being THB 324/MMBtu,” it said.
“Up to five LNG shipments are planned for import into the pool gas system in 2025,” B.Grimm Power said.
PTT’s LNG terminals
In March 2022, B.Grimm LNG signed a terminal use deal with a unit of state-owned oil and gas firm PTT to use the latter’s Map Ta Phut LNG import terminal in Rayong province.
Prior to that, B.Grimm LNG has been authorized to import up to 1.20 million tons of LNG per year.
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.