PTT – EGAT signed a joint venture agreement for the LNG Receiving Terminal-2 Project at Nong Fab Sub-district, Rayong Province to build long-term power security for the county and drive Thailand to become the LNG Regional Hub of ASEAN.
Mr Supattanapong Punmeechaow, Deputy Prime Minister and Minister of Energy revealed that the government saw an opportunity to change the infrastructure investment model to support Thailand’s natural gas procurement and transportation, and therefore assigned the country’s two main state enterprises, namely PTT and EGAT, to invest in the LNG Receiving Terminal-2 Project, or LMPT2, located at Nong Fab Sub-district, Rayong Province. The project will enhance the competitiveness of the country’s natural gas business which is in line with Thailand’s natural gas market liberalization, support LNG import to meet demands, build long-term power security for the country, and drive Thailand to become the LNG Regional Hub of ASEAN.
This joint venture agreement between PTT and EGAT is an important step in strengthening the cooperation between the two organizations, creating trust in the country’s power security, and enhancing efficient development so that Thais can have sustainable energy along with a better quality of life.