November 28, 2019 / 9:59 AM / 6 months ago

Malaysia's Petronas wins bid to supply LNG to Thailand's EGAT

BANGKOK, Nov 28 (Reuters) - Petronas LNG Ltd., a subsidiary of Malaysia’s state oil and gas company Petronas won a bid to supply 130,000 tonnes of liquefied natural gas (LNG) to Thailand’s state-owned Electricity Generating Authority of Thailand.

Petronas LNG offered the lowest price among 12 companies who bid, Patana Sangsriroujana, EGAT’s deputy governor for strategy said in a statement on Wednesday.

Thailand’s largest power producer EGAT said it plans to import the LNG in two shipments of 65,000 tonnes each in the spot-market.

The first will be shipped between Dec. 28 and 31, during the peak period in global LNG market and the second shipment will be in April 2020 during an off-peak period, EGAT said.

EGAT now buys gas from a state-owned unit of PTT, Thailand’s sole gas supplier and LNG importer, and has finalised an agreement with PTT LNG for 1.5 million tonnes per annum (mtpa) of regasification capacity at Map Ta Phut, the country’s only LNG receiving terminal in eastern Thailand.

EGAT is still negotiating contract terms with Petronas for a separate longer-term contract to import LNG, as part of the Thai government’s plan to boost competition in the power sector.

Reporting by Panu Wongcha-um; editing by Jason Neely

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