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Petronas wins bid to supply 130 000 t of LNG to EGAT

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According to Reuters, Petronas LNG Ltd has won a bid to supply 130 000 t of LNG to Thailand’s state-owned Electricity Generating Authority of Thailand (EGAT).

Petronas LNG – a subsidiary of Petronas – reportedly offered the lowest price amongst the 12 bidding companies.

According to Reuters, EGAT has said that it is planning to import the LNG in two 65 000 t shipments, each in the sport market. The first cargo will reportedly be shipped between 28 and 31 December, while the second shipment will take place in April 2020. The first is during the peak period in the global LNG market, whilst the latter is during an off-peak period.

EGAT now purchases gas from a state-owned unit of PTT – Thailand’s sole gas supplier and LNG importer – and has reportedly finalised an agreement with PTT LNG for 1.5 million tpy of regasification capacity at the country’s only LNG receiving terminal in eastern Thailand: Map Ta Phut.

According to Reuters, EGAT is still currently holding talks regarding contract terms with Petronas for a separate, longer-term contract to import LNG, as part of the Thai government’s plan to increase competition within the power sector.

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