PTT to construct floating LNG storage

Construction News Myanmar

BANGKOK, 4 June 2015 (NNT) – PTT Plc is set for the construction of the natural gas floating storage unit to strengthen the stability of the natural gas system, according to the PTT CEO.

The President and CEO of PTT Plc Pailin Chuchottaworn has revealed that the company is planning to construct two Floating Storage and Regasification Units (FSRU) under a 200 billion baht budget. The FSRU’s LNG storage capacity is 3 million tons per unit.

The FSRU will be constructed at two locations, at Chana Distirct in Songkhla Province, and at another location which could be at the Dawei District in Thailand or the Pilok town in Myanmar, to reduce the effects from the annual natural gas source maintenance and to stabilize the natural gas system in Thailand.

PTT Plc CEO added that the construction would take 3 years, while the unit which is pending for construction in Myanmar is awaiting approval from Myanmar authorities. The Myanmar government has agreed with the development of project, as Myanmar will be able to utilize the LNG for electricity generation in the country. The PTT Plc CEO assured that the majority of the LNG stored in Myanmar will be utilized for the energy consumption in Thailand.

PTT Plc is now considering a construction project of a second land LNG storage in Map Ta Phut, Rayong Province, and is currently surveying potential locations for a third LNG storage. The PTT Plc CEO has also stressed that Thailand needs both land and floating LNG storage units to maximize the nation’s energy security.