Dateline 2016-07-13, Reuters Africa:
PTT Pcl, Thailand’s top energy firm, plans to invest more in neighbouring Malaysia including cooperation in a liquefied natural gas (LNG) project, Chief Financial Officer Wirat Uanarumit said on Wednesday.
State-controlled PTT is studying the possibility of joint investments in several projects, Wirat said but declined to give further details.
PTT has been in talks with several LNG suppliers to secure long-term energy supplies as Thailand uses natural gas for almost 70 percent of its power generation.
PTT already has a joint venture, Trans Thai-Malaysia (Thailand) Ltd, with Malaysia’s Petronas to overlook the gas pipeline and gas separation plant projects since 2000.
In June, PTT cut its 2016 investment budget by 15 percent to 43.31 billion baht ($1.23 billion), which is part of its five-year plan to spend 297 billion baht during 2016-2020.
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