PTT International signs contract to purchase LNG from Oman 

This move is aimed at mitigating the risks associated with short-term LNG purchases on the spot market. Credit: EA Given/Shutterstock.

PTT International Trading, the trading arm of Thailand’s state-owned oil and gas company, PTT, has entered into a five-year agreement to purchase 300,000 tonnes (t) of LNG from Oman, reported the Bangkok Post.  

This move is aimed at mitigating the risks associated with short-term LNG purchases on the spot market, which can lead to volatile gas prices and higher electricity costs for Thailand. 

Under the contract, LNG delivery is set to commence in 2025 and continue through 2029. 

PTT senior executive vice-president for international business Pongpun Amornvivat did not disclose the purchase price of the LNG, the report said. 

However, he emphasised the significance of the deal in fostering the growth of Thailand’s LNG market and establishing the country as a trading hub within the ASEAN region. 

The agreement, which is expected to bolster PTT’s capabilities in international trade, was formalised at a signing ceremony attended by Pongpun Amornvivat and Oman LNG’s chief executive, Hamed Al Naamany.  

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