Thailand’s state-controlled energy company, PTT, is in talks pertaining to a long-term LNG supply agreement with Qatar, reported Reuters, citing four trading sources.
According to the sources, QatarEnergy is negotiating LNG supply of one or two million tonnes per annum (mtpa) to PTT.
An industry source said that the two companies are in “serious negotiations”.
If the talks bear fruit, PTT and QatarEnergy would sign a 15-year LNG supply deal.
QatarEnergy has been in talks with several undisclosed buyers from Asia this year. The Gulf energy giant has so far signed three LNG supply deals with Asian buyers.
The Asian companies are looking to secure LNG supply deals with QatarEnergy, which is undertaking a two-phase North Field expansion project to boost its liquefaction capacity to 126mtpa, up from 77mtpa, by 2027.
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The North Field expansion project, which includes six LNG trains, is operated by Qatargas on behalf of QatarEnergy.
Earlier this year, PTT signed a nine-year deal with state-owned Oman LNG.
As per the term-sheet agreement, Oman LNG is required to supply a total volume of 0.8mtpa of LNG based on a nine-year contract to PTT Global LNG, starting from 2026.
In June 2023, QatarEnergy signed a 27-year agreement to supply 4mtpa of LNG per year to China National Petroleum Corporation.