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Thailand’s PTT planning to invest in Malaysia

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LNG Industry,

According to Reuters, Thailand’s energy company, PTT, is planning to invest money into Malaysia. This will include cooperation in the development of an LNG project, according to the company’s CFO, Wirat Uanarumit.

Reportedly, PTT has been holding discussions with a number of LNG suppliers in order to secure long-term energy supplies to Thailand. This is because Thailand utilises natural gas for nearly 70% of its power generation capacity.

Despite the fact that PTT cut its 2016 investment budget by 15% in June 2016 to 43.31 billion baht (US$1.23 billion), Wirat reportedly claimed that this was mainly due to delays in investments from the government in infrastructure. PTT is still, he added, looking to purchase additional oil and gas assets following the decrease in the price of oil.

In addition to this, the company is taking into consideration the possibility of repurchasing its dollar-denominated debt in order to help manage its excess liquidity and to reduce financial costs.

Edited from various sources by David Rowlands

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