Growing demand for electricity, declining domestic production of natural gas coupled with rising utilisation of natural gas as feedstocks for petrochemical plants, is boosting demand for LNG in Thailand. Natural gas and LNG imported into Thailand is blended with locally produced natural gas.
PTT Offshore LNG terminal was commissioned in 2011 in Map Ta Phut, with an initial LNG handling capacity of 5 million tpy, which is further forecast to reach 11.5 million tpy by 2020 in two phases. Expansion of existing LNG terminals, installation of floating storage regasification unit (FSRU) and growing demand for natural gas as an alternate fuel are major factors anticipated to positively influence the LNG market in Thailand over next 10 years.
According to "Thailand LNG Market Demand & Supply Analysis, By Region, By Application, By LNG Terminal, Competition Forecast and Opportunities, 2011 - 2025", LNG market in Thailand is projected to exhibit a CAGR of 7.2% during 2016 – 2025. The country mainly imports LNG from Qatar, Australia and Indonesia. Bangkok dominated Thailand LNG market over the past few years, on account of high population density, rising number of industrial units and presence of gas-based power plants in this region. Moreover, power sector accounted for highest market share in Thailand LNG market over the past few years, owing to decline in production of natural gas and rising dependence on LNG for power generation.
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