Commodity Market Report

Thailand LNG market outlook

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15 September 2021

Thailand LNG market outlook

Report summary

LNG imports grew in 2020 despite a decline in gas demand due to coronavirus-related economic slowdown. Rising spot LNG prices threatens energy security as contracted LNG volume is insufficient to meet LNG demand after 2022. PTT and new market players will jointly develop the Rayong and Surat Thani LNG regas terminals. Power producers' strong interest in self-procuring LNG is met with government support as the ERC issues new LNG import licences. The NEPC will progressively allow spot LNG imports while it evaluates if the term LNG market is ready for more competition. This report presents Wood Mackenzie's view of Thailand's LNG market. Understand the key risks and opportunities in Thailand's LNG market with our latest supply-demand balance analysis, views on key infrastructure developments, and latest trends in LNG trade.

Table of contents

  • EGAT and PTT plan to jointly develop new LNG terminal
  • New LNG import licences issued but no real activity since April 2020
  • Insufficient contracted LNG for rising demand after 2022
    • Ministries and government agencies
    • Enterprises and business entities
    • Third-party access
  • Map Ta Phut regasification terminal
    • Map Ta Phut LNG terminal expansion
    • Nong Fab LNG terminal
    • Proposed Surat Thani LNG terminal
    • Short term
    • Long term

Tables and charts

This report includes 8 images and tables including:

  • LNG import map
  • Thailand LNG demand
  • LNG contract volumes
  • Lapsed/cancelled LNG agreements
  • LNG contract price assumptions
  • Regas capacity utilisation
  • Historical LNG imports
  • Seasonal profile

What's included

This report contains:

  • Document

    1h21_thailand_lng_data.xls

    XLS 375.00 KB

  • Document

    Thailand LNG market outlook

    PDF 1.35 MB