Thailand Looks to Buy Into U.S. LNG Export Projects to Secure Supply
LNG Export Projects to Secure Supply Thailand’s state-owned oil and gas firm PTT is in early-stage talks with developers of U.S.
LNG export projects to invest in facilities and secure long-term supply, anonymous sources with knowledge of the matter toldBloombergon Tuesday.
Thailand looks to secure long-term supply to avoid costly spot LNG purchases during crises such as the current disruption in the Middle East.
PTT is talking to several developers, including Australia’s Woodside Energy, which is building the Louisiana LNG export plant in the United States, according to Bloomberg’s sources.
Woodside islooking to securefirm long-term commitments for its newly-approved Louisiana LNG plant.
Buyer interest in volumes from Louisiana LNG has recently increased following the shock supply loss from the Middle East, Liz Westcott, chief executive officer at Woodside Energy, toldBloombergTelevision last month.
PTT aims to expand its LNG supply portfolio and the U.S.is just one of the countries it is considering, the Thai company told Bloomberg in a statement.
The sudden halt of LNG flows from the Middle East has prompted Asian buyers, including the top LNG importer in Southeast Asia, Thailand, toseek long-term solutionsto secure supply from sources not needing the Strait of Hormuz.
Discussions about the long-term supply of U.S.
LNG to Thailand have accelerated since the Iran war and the closed Strait of Hormuz disrupted Qatar’s shipments, sources with knowledge of the talks toldReuterslast month.
Thailand has already committed to buy U.S.
and Thailandagreedon a reciprocal trade framework, under which the Asian nation pledged to buy U.S.
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