PTT Buys LNG Spot Cargo at Around $14/mmBtu for June Delivery

Thailand’s state-owned PTT Pcl (PTT) has

purchased a liquefied natural gas spot cargo for June delivery

at around $14 per million British thermal units, according to a

company official.

PTT will buy the June cargo from a specific project

operator and not a portfolio seller, said the official who asked

not to be identified as he isn’t authorized to speak to the

media. The company is still evaluating the five offers it

received for a July-delivered shipment, he said.

PTT closed a third buy tender April 22 for two LNG cargoes

shipped in June and July to its Map Ta Phut terminal. In

January, the company bought four LNG spot cargoes delivered from

March to June.

PTT owns and operates the 5 million metric ton-a-year Map

Ta Phut terminal in Rayong that began operating in the third

quarter of 2011. It signed its first long-term contract with

Qatargas in December 2012 for 2 million tons of LNG annually for

20 years starting in 2015, according to data compiled by

Bloomberg.

PTT needs to buy as much as 2 million tons of spot LNG in

2013 to meet power-industry demand, the official said on April

12. The company has taken delivery of four spot LNG cargoes from

Qatar totaling 381,757 tons to date, according to customs and

ship tracking data.

To contact the reporter on this story:

Chou Hui Hong in Singapore at

chong43@bloomberg.net

To contact the editor responsible for this story:

Alexander Kwiatkowski at

akwiatkowsk2@bloomberg.net

PTT Buys LNG Spot Cargo at Around $14/mmBtu for June Delivery