Equinor Signs Long-Term LNG Deal with PTTT Amid Thai Group's Diversification Push
Equinor ASA, a Norwegian energy company, and PTT International Trading Pte Ltd (PTTT), the international trading arm of Thailand's state-linked PTT group, have signed a long-term supply agreement for liquefied natural gas. The deal was announced on the sidelines of Gastech in Bangkok, a major international gathering for the gas industry.
The commercial terms of the deal, its duration, and the volumes involved remain confidential, according to both parties. However, this move marks a new step in the commercial relationship between Equinor and PTTT. It also fits into a broader trend as PTTT pushes to diversify its LNG supply sources.
Equinor has targeted an expanded global liquefied natural gas portfolio beyond 2030, which includes both its own production from its Arctic liquefaction site in northern Norway and purchases from US producer Cheniere. The company's vice president for LNG, Ingvar Egeland, was cited in connection with this strategy.