Thailand's industry regulator on Wednesday approved plan for the country's top energy firm, PTT Pcl , to invest 33 billion baht ($1.1 billion) on an expansion of liquefied petroleum gas (LPG) terminal capacity, a PTT executive said, Reuters reports.
The move is aimed serving rising demand for LPG, which is expected to grow 8 percent a year, PTT Executive Vice President Nattachart Jaruchinda told reporters.
"Demand should rise 8 percent a year if the government contines to curb domestic retail prices," Nattachart said, adding PTT is expected to import 1.44 million tonnes of LPG this year with the volume rising to 5 million tonnes by 2017.
State-controlled PTT plans to boost its LPG terminal capacity by 500,000 tonnes, which includes expanding an existing terminal in the eastern province of Chonburi and building a new terminal and port at new location, most likely in Rayong province, he said.
The Chonburi terminal is expected to serve up to 250,000 tonnes in the next four years, up from 130,000 now, he said.
To serve strong domestic demand, PTT may import as much as 10 million tonnes of liquefied natural gas (LNG) in the future, up from its initial plan of 5 million tonnes, Chief Executive Prasert Bunsumpun said on Tuesday.
PTT is in the process of building Thailand's first LNG receiving terminal, worth about $880 million, expected to begin a commercial launch in the second half of this year.
Domestic gas demand is expected to be strong after the Thai government decided to delay Thailand's nuclear power plant projects amid rising public concerns after Japan's nuclear crisis, analysts said.
Earlier on Wednesday, the National Energy Policy Committee decided to postpone the planned commencement of Thailand's first nuclear power plant by another three years to 2023.
The move is aimed serving rising demand for LPG, which is expected to grow 8 percent a year, PTT Executive Vice President Nattachart Jaruchinda told reporters.
"Demand should rise 8 percent a year if the government contines to curb domestic retail prices," Nattachart said, adding PTT is expected to import 1.44 million tonnes of LPG this year with the volume rising to 5 million tonnes by 2017.
State-controlled PTT plans to boost its LPG terminal capacity by 500,000 tonnes, which includes expanding an existing terminal in the eastern province of Chonburi and building a new terminal and port at new location, most likely in Rayong province, he said.
The Chonburi terminal is expected to serve up to 250,000 tonnes in the next four years, up from 130,000 now, he said.
To serve strong domestic demand, PTT may import as much as 10 million tonnes of liquefied natural gas (LNG) in the future, up from its initial plan of 5 million tonnes, Chief Executive Prasert Bunsumpun said on Tuesday.
PTT is in the process of building Thailand's first LNG receiving terminal, worth about $880 million, expected to begin a commercial launch in the second half of this year.
Domestic gas demand is expected to be strong after the Thai government decided to delay Thailand's nuclear power plant projects amid rising public concerns after Japan's nuclear crisis, analysts said.
Earlier on Wednesday, the National Energy Policy Committee decided to postpone the planned commencement of Thailand's first nuclear power plant by another three years to 2023.