PUBLISHED : 9 Apr 2025 at 06:32
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SET-listed Gulf Development, a power and telecom operator, is preparing to jointly build a liquefied natural gas (LNG) receiving terminal in Map Ta Phut deep-sea port to strengthen its gas business.
The new facility, the third in Thailand, will help the company better manage imported LNG, which will be supplied to its power plants, including those in the independent power producer category, as well as industrial customers.
The terminal, with carrying capacity of 5 million tonnes a year, will support Gulf after it is granted a licence by the authorities to ship LNG to Thailand.
The company said it aims to increase annual capacity to 10.8 million tonnes in the future.
The facility is to be developed by Gulf MTP LNG Terminal Co, a joint venture in which Gulf holds a 70% stake, with the remaining 30% belonging to PTT Tank Terminal, a wholly-owned subsidiary of national oil and gas conglomerate PTT Plc.
“The project will play a critical role in strengthening the country’s energy security,” said Yupapin Wangviwat, deputy chief executive and chief financial officer of Gulf.
Gas makes up 60% of the total fuels used for power generation in Thailand.
“The terminal will enhance LNG import capacity to meet the growing energy demand from the industrial and power generation sectors in line with Thailand’s economic growth,” said Ms Yupapin.
This project is making good progress after Gulf MTP LNG Terminal was given a letter by the Industrial Estate Authority of Thailand, notifying the completion of land reclamation work that will pave the way for the terminal’s construction.
Gulf MTP LNG Terminal will build the LNG receiving and regasification facility on part of 1,000 rai area of land at the port. The construction is scheduled to start in the middle of this year.
PTT operates the country’s first LNG import terminal with a storage capacity of 11.5 million tonnes a year in Map Ta Phut, Rayong.
It co-invested with the Electricity Generating Authority of Thailand to build a second terminal, with capacity of 7.5 million tonnes a year, in Nong Fab in the same province.
Gulf Development wants to expand its energy business and grow in the telecom industry through its subsidiary Advanced Info Service.
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