Thailand’s gas demand to increase by nearly 6% in the next ten years

Wood Mackenzie’s research emphasizes the significant importance of gas and liquefied natural gas (LNG) in Southeast Asia’s energy transition, with a specific focus on Thailand. The research indicates that gas and LNG will play a crucial role in meeting the energy needs of Southeast Asia, especially in Thailand, as the region shifts towards cleaner and more sustainable energy sources.

Key Takeaways

• Despite the growth of renewables, gas will remain essential for grid stability during Thailand’s energy transition.
• Thailand faces a potential shortfall in contracted LNG, increasing its exposure to volatile spot purchases and higher gas prices.
• Developing new gas infrastructure, such as LNG terminals and pipelines, is crucial for ensuring Thailand’s energy security and successful transition.

Despite a growing renewable energy sector, gas remains essential for grid stability and meeting energy demand, especially in the power sector. Thailand faces potential volatility in gas prices due to a shortfall in contracted LNG supply, emphasizing the need for new infrastructure and long-term procurement strategies.

The country could benefit from partnerships with reliable solution providers like PETRONAS, a global leader in LNG production with a strong track record in supplying Asian markets. PETRONAS also demonstrates a commitment to sustainable practices, aligning with Thailand’s vision for a greener future.

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PETRONAS, originally an energy supplier for Malaysia’s domestic market, has extended its reach to support key Asian economies such as Japan, China, and Korea. This expansion highlights PETRONAS’s strong grasp of Asian market dynamics and its ability to provide customized delivery solutions along with flexible commercial and contractual terms.