Thailand is on track to complete its LNG terminal at Rayong by 2011, according to a senior official from state-owned oil firm PTT Public Co. Ltd.
South Korea’s GS Engineering & Construction Corp. will build the 5 million tonne per year terminal, 200km southeast of Bangkok on the Gulf of Thailand. PTT apparently plans to double the terminal’s capacity at a later stage, as it ramps up LNG purchases from several sources to meet the country’s rising gas demand.
Wuttikorn Stithit, Vice-President of PTT’s supply department, told news agency OGJ that the company signed the contract in February to begin construction of the $700m terminal and had hoped, when it initially approached the market, that it would be ready in 2010.
Stithit noted how Thailand aims to become a strategic destination for LNG in the Asia Pacific region.
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