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Energy-hungry Thailand eyeing Russian LNG imports

Energy-hungry Thailand eyeing Russian LNG imports
Russian companies are interested in supplying liquefied natural gas (LNG) to the Thai market, according to the Russian Energy Ministry. Moscow and Bangkok have a long track record of energy cooperation.

“Russian energy resources – oil, petroleum products and coal – are delivered stably to Thailand. Considering the great importance of natural gas for Thailand’s power generation, as well as the growth of gas consumption, Russian companies are interested in organizing the supplies of liquefied natural gas to Thailand’s market,” Energy Minister Aleksandr Novak was quoted as saying by the press service.

The ministry is also considering the construction of power generation facilities in Thailand as a promising cooperation area for Russian companies.

Thailand's Energy Minister Siri Jirapongphan told Sputnik news agency the country is facing a natural gas shortage and sees Russia as a potential new supplier.

READ MORE: Arctic to tropics: India welcomes first-ever shipment of Russian liquefied natural gas

“We are planning to increase imports of LNG from various countries. We are now importing from the Middle East, Australia, the United States, and South Asia. We are looking for additional imports from Canada, and various other countries. Russia is one of them,” Jirapongphan said.

Thailand imports five million tons of LNG per year, according to the minister, but plans to increase that to 20-25 million tons in the next 10-15 years as its own natural gas resources continue to decline.

READ MORE: Russia doubles LNG exports as revenues grow threefold

“We are open to discussions and there have already been some exploratory meetings [with Russia], anything we can do together will be splendid and beneficial for Thailand as well,” Jirapongphan said.

For more stories on economy & finance visit RT's business section

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