PTT Targets Tripled LNG Trading Volume by 2035 Amid Energy Security Concerns

Thai energy company PTT aims to triple its liquefied natural gas (LNG) trading volume by 2035, from the current 3-4 million tonnes a year. This growth plan is part of the company's effort to ensure Thailand has sufficient energy at reasonable prices while reducing carbon emissions. PTT currently imports around 30% of its LNG needs, and the company plans to increase this share in the coming years.

Kongkrapan, an executive at PTT, emphasized that natural gas will continue to play a crucial role in global energy security for the next 20-30 years. However, he also stressed that its use must be accompanied by carbon reduction efforts. To achieve this balance, PTT is investing in carbon capture and storage (CCS) technology.

The company's LNG business has two main areas: imports overseen by government regulators to strengthen national energy security, and LNG trading in the global market. By expanding its LNG portfolio, PTT aims to secure alternative energy sources and reduce its reliance on any single supplier. This diversification strategy will help the company manage risks effectively.