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.