By Kenny Teng
BANGKOK, March 24 (Bernama) — Thailand has adequate gas provides for energy technology regardless of ongoing volatility in international power markets and rising gas prices, the Power Regulatory Fee (ERC) stated.
ERC Secretary-Basic Poolpat Leesombatphiboon stated the nation confronted no quick dangers in securing gas for energy technology and the electrical energy system at present stays steady.
He stated Thailand’s gas procurement for electrical energy technology is structured with round 70 per cent secured by way of short- and long-term contracts, whereas the remaining 30 per cent is sourced from spot liquefied pure gasoline (Spot LNG) purchases to handle worth fluctuations.
“Home LNG inventories stay at a excessive degree and are adequate to satisfy demand. Nonetheless, all Spot LNG procurement should be performed by way of aggressive pricing in accordance with laws to make sure equity and authorized compliance,” he stated in an announcement on Tuesday.
He added that with Thailand getting into the summer season interval from April to Might, the electrical energy demand is anticipated to rise considerably, requiring cautious administration.
Poolpat added that, as ongoing geopolitical tensions in West Asia have an effect on LNG provide and costs, efforts are being stepped as much as diversify gas sources and keep cheap prices.
This he stated, embrace growing electrical energy technology from coal, hydropower and home pure gasoline within the Gulf of Thailand.
He stated Thailand imports roughly six per cent of its whole gasoline provide from Qatar, accounting for about 15 per cent of its LNG imports.
“Thailand can supply LNG from the spot market and can proceed to intently monitor developments whereas taking all vital steps to mitigate dangers and minimise potential impacts,” he added.
He emphasised that the ERC will proceed to intently monitor the state of affairs and handle LNG procurement and reserves to make sure satisfactory provide.
Native media reported that the ERC is ready to evaluation electrical energy tariffs for the Might-August billing interval amid a pointy rise in LNG prices pushed by tensions in West Asia.
The brand new tariff construction will likely be thought of on the regulator’s board assembly on Wednesday, in keeping with the ERC.
— BERNAMA
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