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Qatar LNG deal still on says PTT

Singapore, September 21, 2011

Thailand's largest energy firm PTT has not cancelled any long-term contracts to buy liquefied natural gas (LNG) from top exporter Qatar, said a senior PTT executive.

'For the long term, we are still talking but I don't want to touch on the details. There is no cancellation,' Terdkiat Prommool, vice-president of PTT's LNG supply department, stated.

Other PTT executives had said earlier this month that a deal to buy one million tonnes a year of LNG from Qatar was scrapped after a recent price surge, and that the firm has signed alternative contracts with two suppliers.

Rising LNG demand in the wake of the March 11 earthquake in Japan had pushed up LNG prices in recent months to more than $16 per million British thermal unit (mmBtu), from $7-8 mmBtu during the pre-quake period.

Tags: Qatar | Thailand | PTT | LNG deal | energy firm |

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