Commodity Market Report
Thailand LNG long-term outlook H1 2020
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Report summary
EGAT imported its first LNG cargo via TPA in December 2019, while LNG import licences have been awarded to Gulf Energy, Hin Kong Power, and B. Grimm Power. Low spot LNG prices may have encouraged the government to accelerate gas market liberalisation, to lower electricity costs. Near-term LNG demand growth is expected to be strong, driven by new gas-fired capacity. LNG demand growth slows in the medium term given sustained production from Erawan and Bongkot, but is also supported by higher gas-into-power demand. 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 contract developments, regas infrastructure, market structure and policy.
Table of contents
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Executive summary
- Gas market liberalisation takes shape with EGAT cargos and private sector licences
- Construction has started on Nong Fab terminal, while EGAT FSRU and South FRSU are in the pipelines
- PTT traded its first LNG cargo, formally launching its LNG trading arm
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LNG demand
- Short-term LNG outlook
- Medium- and long-term LNG outlook
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LNG import terminals
- Map Ta Phut regasification terminal
- Nong Fab LNG
- EGAT FSRU
- South Thailand FSRU
- Dawei LNG
Tables and charts
This report includes 6 images and tables including:
- Thailand LNG demand
- LNG contracts
- Contracted LNG supply position versus available regasification capacity
- Historical LNG imports
- Seasonal profile
- LNG import infrastructure
What's included
This report contains:
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