Thailand LNG long-term outlook 2019 Report

Commodity Market Report 19 July 2019

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Report summary

Thailand's LNG market is at the cusp of change. After years of hard work in setting up third party access, EGAT is set to join the ranks of LNG importer in 2020. Demand-wise, we expect strong near-term growth as a result of new gas-fired capacity. LNG growth prospects are muted in the medium term due to sustained domestic gas production from the Erawan and Bongkot fields. However, longer-term uncertainty on gas supplies in the Gulf of Thailand and Overlapping Claims Area continue to present strong upside for LNG. Thai buyers will need to sign more LNG contracts to meet future demand. Meanwhile, Thailand's infrastructure has been expanding in recent years in anticipation of increasing LNG imports. This report presents Wood Mackenzie's view of Thailand’s LNG market including our latest supply-demand balance, contract developments, regas infrastructure, market structure and policy.

LNG needed to backfill declining domestic supplies
Construction has started on Nong Fab terminal, EGAT FSRU and South FRSU in the pipelines
PTT traded its first LNG cargo, formally launching its LNG trading arm
EGAT's LNG import plan likely to be delayed to 2020
LNG demand
- Short-term LNG outlook
- Medium- and long-term LNG outlook
LNG Imports
Seasonality
LNG import terminals
- Map Ta Phut regasification terminal
- Nong Fab LNG
- EGAT FSRU
- South Thailand FSRU
- Dawei LNG
Regulatory Overview
Third party access