Thailand's PTT Public Ltd. Co. has struck an agreement with BP plc for about 1 million tonnes per annum (mtpa) of liquefied natural gas (LNG) for 20 years beginning in 2017. LNG is to be sourced from BP's supply portfolio, including the Freeport LNG export project in Texas.
"Thailand has become a significant LNG market, and this agreement with PTT further demonstrates our LNG supply capability in the region," said BP's Paul Reed, chief of integrated supply and trading.
PTT is a fully integrated national petroleum and petrochemical company, a unit of which is involved with development of an ethane cracker in Ohio. Commercial terms were not disclosed.
According to the U.S. Department of Energy's LNG Monthly for December, Thailand has not received any U.S. LNG exported from the Lower 48 states.
BP is active in many of the major LNG producing regions as well as in the main LNG markets. The company is involved in LNG projects in Australia, United Arab Emirates, Indonesia, Egypt, Trinidad and Angola. It has a liquefaction tolling agreement for more than 4.4 mtpa LNG capacity at the Freeport terminal, which is under construction with production expected to begin in 2018.