Thailand considers energy investment in PNG

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Thailand considers energy investment in PNG

04 May 2013

NATIONAL NEWS BUREAU OF THAILAND

THAILAND’S LEADING ENERGY EXPLORER is considering an investment plan in Papua New Guinea, although the company has conceded that more time is needed before a decision is made.

Tevin Vongvanich, president and chief executive officer of PTT Exploration and Production Public Company (PTTEP), revealed an investment feasibility study has been underway in PNG.

He stated the plan was conceived to help Thailand achieve energy security in the future when local demand is expected to surpass domestic supply.

Vongvanich said PNG is considered a possible investment destination as the country has discovered natural gas deposits and its liquefied natural gas development has already begun.

He added that the PNG government extended an official invitation to Thai prime minister Yingluck Shinawatra during her recent trip for Thailand to conduct an exploration project.

Posted in Business, resources & economy | Permalink | Comments (0)

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