Thailand is taking steps to bolster its energy security by diversifying its energy sources and expanding renewable energy development, while fostering public-private cooperation. The country's reliance on imported liquefied natural gas (LNG) and pipeline natural gas from Myanmar has exposed it to geopolitical risks and supply disruptions. Darika Sarunyagate, an adviser to Thailand's Natural Resources and Environment Minister, highlighted these challenges during the Singapore International Energy Week, emphasizing the need for collaboration between the public and private sectors to ensure reliable and affordable energy supplies while meeting climate commitments.
Thailand's climate goals include achieving net-zero greenhouse gas emissions by 2050 and reducing emissions by 47% from 2019 levels by 2035, as part of its third Nationally Determined Contribution under the Paris Agreement. The Energy Ministry is developing the Power Development Plan 2026 to support these targets, focusing on cleaner electricity generation, reducing fossil fuel dependence, and maintaining affordable electricity. The country is also exploring alternative energy sources like solar and wind power, energy storage systems, and grid modernization.
Public-private cooperation extends to carbon capture and storage technology, with projects such as the Arthit gas field in the Gulf of Thailand, which aims to store up to 1 million tonnes of carbon dioxide annually starting in 2028. Additionally, Thailand is seeking greater flexibility in gas procurement and has secured US$2.4 million in World Bank grant funding for climate-related initiatives. The country is also interested in expanding bilateral energy cooperation with nations like Singapore, New Zealand, and France.
Industry experts at the Singapore-IEA Forum discussed the broader challenges in Asian energy markets, including declining domestic gas production and growing electricity demand. They emphasized the need for flexible gas procurement, efficient use of renewable energy, and diversified natural gas supplies. Financing arrangements that support flexible operation of gas-fired power plants were also highlighted as crucial for maintaining supply reliability and managing price volatility.