Thailand has expressed interest in co-developing the $44bn (Bt1.47trn) Alaska gas pipeline project, a move aimed at reducing its trade surplus with the US, reported Bloomberg.
Thailand’s Ministry of Energy confirmed discussions about Bangkok's potential involvement in the project, which has received support from US President Donald Trump.
The country's participation in the Alaska gas pipeline venture, which includes an 800-mile (1,287.5km) pipeline stretching across Alaska, is part of a broader strategy to increase investments in the US, potentially warding off the Trump administration's proposed 36% tariff on Thai exports.
Thailand is exploring investments in gas exploration, production and related infrastructure, as well as considering a long-term contract to import three to five million tonnes per annum (mtpa) of liquefied natural gas (LNG) from Alaska.
The country's interest in the Alaska project also serves its need for energy security, as it faces depleting gas reserves in the Gulf of Thailand.
With natural gas powering 58% of Thailand's electricity, and domestic production covering only 60% of its needs, Thailand is looking to secure stable LNG supplies.
During a meeting with Alaska Governor Mike Dunleavy and executives from Alaska Gasline Development and Glenfarne Group, which support the project, representatives from PTT, the Electricity Generating Authority of Thailand and Electricity Generating discussed LNG trade and investment opportunities.
These entities, all licensed LNG shippers in Thailand, have been instructed to pursue potential import deals with their US counterparts.
Despite the interest from Thailand and other Asian nations, the Alaskan gas project faces significant challenges, lacking binding investments or purchase agreements. The project has been in various stages of proposal for decades.
However, Governor Dunleavy remains optimistic, citing President Trump's support as a factor that will ensure the project's completion.
Earlier this year, Japan expressed its interest in backing the Alaska gas project to strengthen ties with US President Donald Trump and mitigate potential trade tensions.
