Latest News

Engie signs LNG supply contract for 15 years with Thai power plants

By America Hernandez

PARIS, January 13 - French utility Engie signed a 15-year contract to supply liquefied natural gas to power plants in Thailand owned by Gulf Development PCL on Tuesday.

Delivery of up to 0.8 millions metric tons per year will start?in 2028. Details of the price were not revealed. Thailand is the largest LNG importer in Southeast Asia. The demand for the fuel will continue to grow as it gradually replaces coal, which accounts for 14% of its electricity mix.

Gulf Development's CFO Yupapin. Wangviwat stated in a?statement that "this LNG procurement aligns to Thailand's national strategy for gas supply by diversifying natural gas sources, improving price stability and supply volume and strengthening the nation's?long-term energy security".

Engie has not responded to the request for comment regarding where LNG will come from.

The state-backed French firm has signed long-term contracts with NextDecade Rio Grande LNG, Cheniere Corpus Christi LNG, and Sempra Port Arthur LNG to buy 3.5 million tons U.S. LNG annually after 2040. Reporting by America Hernandez, Paris Editing by David Goodman

(source: Reuters)