Thai Gulf Energy Wins LNG Import Licence
Thai independent power producer (IPP) Gulf Energy Development has secured a licence to import LNG into Thailand, it said on May 21 in a statement.
Thailand’s Energy Regulatory Commission has allowed the company to import 300,000 metric tons/year of LNG. Gulf Energy will supply the LNG to 19 small power projects (SPP) within its group. It said the license will help reduce production cost for the industrial users, leading to overall reduction in electricity tariff.
Gulf Energy said in a separate statement that its associate firm Hin Kong Power Holding has also been awarded a license to import 1.4mn mt/yr of LNG, which will be used as fuel for 1.4 GW Hin Kong power project. Gulf Energy holds a 49% stake in Hin Kong Power Holding while Ratch owns the remaining 51%. The project is expected to start operations in 2024-25.
At present, Gulf Energy has 27 power projects in operation in Thailand and overseas, including two gas-fired IPPs and 19 gas-fired SPPs. It has eight power projects under construction and development, including four gas-fired IPPs. The company is also developing an LNG import terminal in Thailand in association with state-run PTT.
Earlier this month, Gulf Energy approved the setting up of a gas subsidiary, Gulf LNG Company. The subsidiary will operate natural gas-related businesses including procurement, and marketing and trading of natural gas.