PTT Group: PTT supports gas prices domestically with long-term LNG contracts, although the global spot LNG price situation is very high

Mr. Atikom Terbsiri, Chief Operating Officer of Upstream Petroleum and Gas Business Group, PTT Public Company Limited (PTT), revealed that the Asian Spot LNG price situation in the late 2021 Until the beginning of 2022, it is still at a very high level. which is caused by the cold weather in the European region coupled with concerns about the cessation of natural gas deliveries from Russia This results in higher overall LNG and oil demand. The current Asian Spot LNG price level for voyages delivered in January – February 2022 averages between $ 40 – 50 per million BTU.

With the mission to maintain energy security, PTT was assigned to procure LNG to meet the domestic gas demand during the time when there was no shipper licensed . supply LNG to be attributed to a decrease in the volume of gas from the Gulf of Thailand, which is expected to affect gas prices, the average ( the Pool Price) to rise in quarter 4 of 2564 to the quarter one year. 2022. However, PTT still has long-term LNG contracts at 5.2 million tons per year that will be able to deliver to Thailand at a price lower than the Spot LNG price, resulting in an average LNG price.The supply is approximately 18 – 20 USD per million BTU.

In a situation where global and national energy prices are high like this, PTT would like to promote efficient use of energy. and still adhere to the care of the country’s energy security The situation of natural gas and LNG prices in the world market is closely monitored. and try their best to manage with the relevant departments causing an impact on gas users and the people to a minimum