Bangkok (VNA) – Escalating tensions in the Middle East are prompting Asian countries to seek alternative long-term liquefied natural gas (LNG) supplies, with Thailand accelerating negotiations to import LNG from the US amid disruptions to shipping routes through the Strait of Hormuz and heavy damage to key export facilities in Qatar.
The talks centre on a binding long-term deal between Thailand's state-controlled energy company PTT PCL and the US' Venture Global (VG.N), said the sources familiar with discussions. The sources did not detail the volumes or duration of any new LNG contracts being discussed, but they typically run 15 or more years.
Last October, after trade talks, the administration of President Donald Trump and Thailand released a joint statement saying Thai companies will purchase about 5.4 billion USD a year in US energy products including LNG, crude oil and ethane.
PTT last year signed an agreement to procure 2 million metric tonnes of LNG per year from Glenfarne's Alaska LNG project over 20 years, Glenfarne said./.
Thailand strengthens cooperation with IEA to enhance energy security
Government spokeswoman Rachada Dhnadirek said after the meeting that IEA Executive Director Fatih Birol praised Thailand’s energy policy direction, describing it as being on the right track and in line with the global energy situation, which is facing growing challenges.
