Thailand plays it coy on future LNG needs

By Damon Evans 9 August 2017
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Map Ta Phut LNG terminal in Thailand. (Qatargas) Map Ta Phut LNG terminal in Thailand. (Qatargas)

The Thai government may appear to be burying its head in the sand by sticking with its previous LNG import forecasts, but it has good reason for playing dumb.

A struggling upstream sector and waning domestic gas production mean more LNG imports are inevitable, but admitting as much could give LNG sellers the upper hand when negotiating further volumes, Trevor Buchinski, a Thailand-focused oil and gas expert at consultancy AWR Lloyd, told Interfax Natural Gas Daily.

“If Bangkok upgrades their long-term LNG demand forecast it could put them in a weaker bargaining position with suppliers, as they do not want to appear desperate,” said Buchinski.

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