Thailand’s state-controlled energy company, PTT, is engaged in advanced discussions with Qatar for a 15-year liquefied natural gas (LNG) supply agreement, as reported by Reuters. PTT is negotiating to secure a supply of 1 to 2 million tonnes per annum (mtpa) of LNG, joining a series of Asian buyers aiming to secure long-term energy supplies.
While both parties are said to be engaged in serious negotiations, a final deal is not expected to be reached before the end of the summer, according to industry sources. Qatar, the world’s leading LNG exporter, has seen increased competition for LNG as Europe seeks to replace its reliance on Russian piped gas.
Asian companies have been more successful than their European counterparts in securing long-term supply agreements with Qatar. The country’s two-phase expansion plan aims to raise its liquefaction capacity to 126 million metric tons per year by 2027.
PTT, along with other emerging Asian market companies, has been actively seeking spot LNG cargoes this year, taking advantage of the lower prices compared to the record highs seen last year. Earlier this year, PTT also signed a nine-year deal with Oman LNG for the supply of 800,000 tons of LNG per year from 2026 onwards.
