Saudi Aramco, Thailand’s PTT Sign MoU to Deepen Energy Cooperation

Saudi Aramco, Thailand’s PTT Sign MoU to Deepen Energy Cooperation

Saudi Aramco and Thailand’s PTT have signed a memorandum of understanding (MoU) to deepen energy cooperation in Thailand.

The MoU targets the supply and trading of crude oil, petrochemicals, and liquified natural gas (LNG).

It focuses on clean energy, carbon capture, and electric vehicles, and outlined potential collaboration across both upstream and downstream operations.

Other potential areas of activity include blue and green hydrogen, Aramco said.

The companies also aim to strengthen cooperation across crude oil sourcing and marketing of refining and petrochemical products.

Ibrahim al-Buainain, Aramco Vice President of Sales, Trading and Supply Planning, said the MoU is an opportunity to achieve the optimal benefit from the supply chain in several vital and rapidly growing business sectors and expand in the downstream sector in Asia, which is one of the main catalysts for global demand for energy and chemical products.

Both countries have been seeking to develop ties in the economic, trade, and investment fields to meet their future aspirations.

They restored diplomatic ties earlier this year during a visit to Riyadh by Thai Prime Minister Prayut Chan-o-cha.

He held talks with Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense.

They agreed to restore ties and open a new chapter in relations after