Thailand’s PTT in advanced talks with Qatar for LNG deal – sources

Thailand’s PTT in advanced talks with Qatar for LNG deal – sources

SINGAPORE/LONDON - Thailand's largest energy company, state-controlled PTT, is in advanced talks with Qatar for a 15-year liquefied natural gas (LNG) supply deal, four trading sources told Reuters. The oil and gas conglomerate is negotiating a supply of 1 or 2 million tonnes per annum (mtpa), according to different figures cited by the sources, in what would be the latest in a spate of deals by Asian buyers to lock in long term supplies. A fifth industry source said that both companies are in "serious negotiations", but added that a deal isn't expected before the end of summer. QatarEnergy and PTT did not immediately respond to a request for comment. Qatar is the world's top LNG exporter and competition for LNG has ramped up since the beginning of the war last year in Ukraine, with Europe in particular needing vast amounts to help replace piped gas from Russia that previously made up almost 40% of the continent's imports. Asian companies, with an appetite for long-term sales and purchase agreements, have outpaced Europe in locking in supply from Qatar's two-phase expansion plan that will raise its liquefaction capacity to 126 million metric tons a year by 2027 from 77 million. The