Thailand’s Gulf Energy to receive first LNG shipment

Thailand’s Gulf Energy Development expects to receive this month the first LNG shipment to supply Hin Kong Power’s plant.

“At the end of February 2024, Gulf will make the first LNG shipment to support the electricity production of Hin Kong Power project unit 1, with an installed capacity of 770 MW,” the power producer said in its 2023 results report.

With this, Gulf becomes the first private company in Thailand to initiate LNG imports, the firm claims.

Also, the import of LNG is in line with the Thailand’s natural gas supply plan as it “will help minimize risks in gas procurement and increase energy security for the country as well,” the firm said.

Gulf expects the first gas-fired unit of Hin Kong Power project to start commercial operation in March.

The firm did not provide any additional details regarding the LNG shipment.

Gunvor deal

Last year, 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.

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 the Hin Kong power plant with capacity of 1,400 MW, located in Hin Kong subdistrict.

In addition, Gulf Energy Development and PTT Tank Terminal, a unit of state-owned PTT, are developing an LNG import terminal in Map Ta Phut with a capacity of 10.8 mtpa.​​

Last 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 Phut LNG terminal (LMPT 1) with a capacity of 11.5 mtpa.

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