<article>Thai energy conglomerate <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=PTT+Group">PTT Group</a> said it is in talks with <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Petronas+">Petronas Group</a> to acquire a 10 per cent stake in the Malaysian company’s liquefied natural gas (LNG) plant.</article>

Thai energy conglomerate <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=PTT+Group">PTT Group</a> said it is in talks with <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Petronas+">Petronas Group</a> to acquire a 10 per cent stake in the Malaysian company’s liquefied natural gas (LNG) plant.
The stake will be acquired through PTT subsidiary <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=PTT+Global+LNG">PTT Global LNG Co Ltd</a>, a 50:50 joint venture between PTT Pcl and PTT Exploration and Production Pcl.
Tevin Vongvanich, president and chief executive officer of PTT Plc, told the media today that this move would help the group secure LNG supply and reduce vulnerability to cost fluctuations.
“We are exploring the best investment option with Petronas and expect to have a conclusion within this year,” he said. “In the future, we will look for opportunities to form a joint venture in other LNG upstream plants as well.”
Currently, PTT is the sole importer of LNG in Thailand. It has signed contracts to buy two million tonnes of LNG per annum from Qatar and one million tonne each from Shell and BP Global.
Last year, PTT also secured approval from the government to buy additional LNG from Petronas to serve rising demand in the country. The contract for LNG trading is expected to be signed soon, he added.
A recent Platts <a style="color: #000080;" href="https://www.platts.com/latest-news/natural-gas/singapore/interview-malaysias-petronas-creating-new-lng-26760216">report</a> noted that Petronas is exploring new ways to grow its customer base amid growing LNG production and changing buying patterns.
Petronas LNG chief executive Ezhar Yazid Jaafar said the company was adjusting its business model in a bid to tap into emerging markets and across the LNG value chain through partnerships.
Vongvanich pointed out that Thailand’s Energy Regulatory Commission is considering a capacity expansion of LNG warehouse from the current 10 million tonnes a year to 11.5- 15 million tonnes. A final decision could be taken by August, he added.
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Thai energy conglomerate PTT Group is in talks with Petronas Group to acquire a 10% stake in the Malaysian company’s liquefied natural gas (LNG) plant.

Thai energy giant PTT Group to pick 10% in Petronas' upstream LNG plant

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Thai energy giant PTT Group to pick 10% in Petronas' upstream LNG plant

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