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business

PTT prepares for impact of new Covid wave on LNG demand


Oil and gas conglomerate PTT Plc is closely monitoring the new wave of Covid-19 infections to see how it will affect the demand of liquified natural gas (LNG), Wuttikorn Stithit, PTT’s senior executive vice president for the gas business unit, said.

Earlier, PTT had forecast that demand for LNG this year would expand 4 per cent year on year, but after the new wave, this prediction will have to be reviewed.

Last year, up to 4,700 million cubic feet of LNG was consumed per day, down 8 per cent from 2019. The biggest decline was in the electricity generating sector following the outbreak.

He said in general, the price of LNG in the spot market will drop from March to May, but said PTT has enough supplies to meet local demands.

Published : January 26, 2021

By : The Nation