PTT cuts 5-year investment by Bt27 bn
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PTT has revised down the investment budget for 2015-2019 by Bt27 billion to Bt300 billion, due mainly to falling energy prices, according to a report by Infoquest.
PTT has revised down the investment budget for 2015-2019 by Bt27 billion to Bt300 billion, due mainly to falling energy prices, according to a report by Infoquest.
Nattachart Charuchinda, CEO for upstream petroleum and gas business, said that for this year, the investment budget is slashed from Bt85.5 billion to Bt79 billion.
Some projects will be postponed to match the new energy demand forecasts, he said.
Demand for natural gas is expected to grow by only 3 per cent per annum in the 5-year period, close to economic growth forecasts.
Nattachart said that the gas demand forecast has been revised down. Meanwhile, gas demand in the new Power Development Plan is also expected to decline.
