Thai state-owned oil and gas giant PTT Group signed an agreement to procure 2 million metric tons of liquefied natural gas per annum from Glenfarne’s Alaska LNG project over a 20-year term, Glenfarne said late on Monday.
PTT said it was was further studying the Alaska LNG project to expand its LNG business and enhance Thai energy security.
Thailand has been increasing its imports of LNG in recent years to cope with rising electricity demand and declining domestic gas production, and has expanded its import capacity.
Southeast Asia’s second-largest economy plans to import more US LNG over the next five years, Thailand’s Finance Minister Pichai Chunhavajira said earlier this year.