Fast Market Research

Thailand Oil & Gas Report Q3 2012 - New Market Report Now Available

Recently published research from Business Monitor International, "Thailand Oil & Gas Report Q3 2012", is now available at Fast Market Research

 
Repost This

Boston, MA -- (SBWIRE) -- 08/30/2012 -- BMI View: Despite having a relatively strong domestic oil and gas position, Thailand is increasingly exposed to oil price fluctuations because of its growing reliance on crude oil imports, pipeline gas and now LNG. The country could become a major exporter of refined oil products within the Asian region, but tough decisions must be made with regard to refinery investment if this potential is to be realised.

The main trends and developments we highlight in the Thai Oil and Gas sector are:

- Thailand's energy demand is expected to rise almost 5% in 2012, driven by economic growth and reconstruction work after flooding in 2011, the Energy Policy and Planning Office (EPPO) of the Ministry of Energy said in January 2012. Suthep Liumsirijarern, EPPO's director-general, said energy demand in Thailand in 2012 was forecast to rise about 4.8% to 1.94mn barrels of oil equivalent per day (boe/d), following growth of 4.1% in 2011.
- US major Chevron brought its US$3.1bn Platong-2 gas project in the Gulf of Thailand onstream earlier than expected. Platong-2 will produce about 3.4bn cubic metres (bcm) of gas per year and 18,000 barrels a day (b/d) of natural gas liquids. State controlled explorer PTTEP's investment in domestic gas production, in addition to the rising volumes supplied by Chevron and other partners, points to stable medium-term gas output. This is forecast to plateau at around 40.0bcm in 2012/13. Consumption looks set to reach 61.6bcm in 2016, implying an import requirement of 27.6bcm. By 2021, Thailand could be consuming almost 78.0bcm of gas, importing around 46.0bcm.
- Liquefied natural gas (LNG) imports have now started arriving in the country after PTT built a regasification terminal at Map Ta Phut. The facility entered service in June 2011 and can handle 5mn tonnes per annum (tpa). PTT is looking at expediting the expansion of the terminal by oneto- two years to help cope with faster-than-expected growth in gas demand. The company believes it is necessary to add a second 5mn tpa unit earlier than expected because of additional gas demand - largely spurred by new gas-fired power plants, a senior PTT executive said in January 2012. BMI forecasts that LNG import volumes could rise to 14bcm in 2016.
- Oil consumption rose from 411,000 barrels per day (b/d) to 808,000b/d between 1990 and 1997, before the Asian crisis triggered a collapse and consumption sunk to 701,610b/d in 2001. Demand has been on a generally upward trend ever since and hit an estimated 991,000b/d in 2011. BMI is assuming 2-3% average annual growth to 2016, which suggests consumption of 1.13mn b/d, rising to 1.27mn b/d by 2021. BMI sees oil import volumes rising to 1.05mn b/d by 2021. Assuming an average 2012 OPEC basket oil price of US$111.47/bbl, Thai petroleum import costs are put at US$33.8bn, rising to US$62.2bn by 2021 (when our oil price assumption is US$97.00/bbl).

View Full Report Details and Table of Contents

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Energy research reports at Fast Market Research

You may also be interested in these related reports:

- Kodiak Oil & Gas Corp. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- Marathon Oil Corporation Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- Zargon Oil & Gas Ltd Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- BP p.l.c. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- Abraxas Petroleum Corporation Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- EXCO Resources, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- EOG Resources, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- Twoco Petroleums Ltd. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- Insignia Energy Ltd. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011
- Gran Tierra Energy Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2011