Bangkok, May 19 - Downstream Petroleum Business PTT strengthens Thai energy. build stability Ready for new business to achieve goals, following NET ZERO plan, expecting Thailand to import LNG to the spot market this year (Spot) increases to 100 ships. LNG prices plummeting, benefiting electricity costs.
Mr. Noppadol Pinsupha, Chief Operating Officer of Downstream Petroleum Business Group, PTT Public Company Limited, revealed that PTT Downstream Petroleum Business Group consists of businesses operated by PTT itself, namely international trading and Downstream Petroleum Business Group includes businesses invested by PTT through companies in the group, namely petrochemical and refining businesses. and oil and retail business It has operating results in the first quarter of 2023, accounting for 31% of PTT's net profit or 8,748 million baht, with business strategies to create energy security according to the main mission and step into new businesses according to the Powering vision. Life with Future Energy and Beyond is ready to grow in an environmentally friendly energy business to achieve net zero emissions. Energy price crisis situation has increased as a result of the Russo-Ukrainian war.
"Downstream Petroleum Business Group PTT participated in reducing the impact on the people. and management for national energy security, including LNG procurement as SPOT during peak hours Sourcing and stocking crude oil in times of global shortage including energy cost management adjust electricity generation with oil There is a timely supply of diesel to replace LNG. And this year, there is a procurement of LNG in advance contracts at a low price according to the policy of the Ministry of Energy to help reduce the cost of electricity as well, ”said Mr. Noppadol.
Mr. Pongpan Amornwiwat, PTT's Executive Vice President, International Trading Business Unit, said that this year the price of LNG has dropped a lot. Spot prices are currently around $9/million BTU. From last year, some spot price ranges as high as 80 $/million BTU And it is expected that until the end of the year the price may be around $ 15-20 / million BTU. This year the price has dropped in part because the European Union (EU) has a high reserve of LNG. Causing the market to have a quantity that exceeds the demand This year, PTT has been approved by the Energy Regulatory Commission (ERC) to import 60 LNG spots or a total of 4 million tons from last year's import of about 53. hull or about 3.3 million tons, but if considering the higher electricity consumption due to both hot air The number of tourists has increased better economy Including lower LNG prices, no need to use diesel instead. It is expected that in total this year may have to import up to 100 ships of LNG spots
“Role of International Trade Business Unit PTT expands its trade network to cover all over the world. increase competitiveness Maximize added value and bring income into the country Including the creation of new businesses, this is a response to the energy world that is about to change in the future. And most importantly, it also makes deals on energy prices that are beneficial to consumers. create energy security,” said Mr. Pongphan.
Mr. Pongphan stated that the International Trade Business Unit There are trading offices in strategic locations around the world. And it is expected that this year there will be an increase in trade volume, with in 2022 the total trade volume will be more than 1.5 million barrels per day. Covering more than 70 countries around the world. and supplies both oil and liquefied natural gas energy from various regions around the world. to support the country's energy demand. In addition, it also seeks new business opportunities such as entering the Carbon Credit Trading market and Sustainable Aviation Fuel (SAF) trading, which will be one of the mechanisms that help drive the PTT Group and Thailand to achieve Net Zero Emissions as set
Mr. Prasong Intaranonongphai, Senior Executive Vice President, Downstream Petroleum Business Group disclosed that PTT has implemented operational strategies through cooperation within the PTT Group to maintain competitiveness for existing businesses (Hydrocarbon based) and as a base for building new businesses in the high-value products group (Advance Materials & Specialty Chemicals) in line with global growth By being able to connect and complete the supply chain (Value Chain), new businesses of the PTT Group, including increasing the proportion of low-carbon businesses and new businesses farther than energy. Technology is also used as a tool to enhance management to help make decisions for the government, such as using digital systems to digitally plan domestic oil production through the Hydrocarbon Value Chain Collaboration Center, as well as alternative management tools. use of the country's fuel in a situation of fluctuating energy prices, etc.
Strategies for Sustainable Growth Supporting changing world conditions Downstream Petroleum Business Group Division, PTT has joined forces within the group. Set new business plans under environmental challenges, consisting of entering the water management business, including business plans to support PTT Group's Net Zero Emissions goal, for example, preparing to become an aviation fuel producer. Sustainable Aviation Fuel (SAF) drives Thailand to become a hub for the production and use of aviation biofuels. Push for circular economy cooperation and invest in businesses with low carbon emissions (Decarbonization), etc.
“New businesses in 2022 account for 15% of Ebitda, aiming to increase to 30% of Ebitda in 2070. There are negotiations to cooperate with partners in many businesses. sun Collaborate with the Industrial Estate Authority of Thailand (IEAT) to study how to prevent water shortage, including water recycling Producing fresh water from seawater including water diversion investment in water piping system which is important for both attracting investment in the EEC and the PTT group, there is a demand for oil, accounting for 30 percent of industrial water in the east .–Thai News Agency
Source: Thai News Agency