Qatar replaced Yemen as Thailand’s biggest supplier of liquefied natural gas last year as the Southeast Asian country’s imports of the fuel rose 45%. The average cost was 2.1% higher than in 2012.
State-owned PTT paid 37bn baht ($1.1bn) for 1.41mn metric tonnes of LNG from Qatar, Nigeria, France, Equatorial Guinea and Egypt last year, according to data from the Thailand Customs Department.
That’s equivalent to about $16.45 per million British thermal units, up from $16.10 in 2012, according to Bloomberg calculations.
PTT, Southeast Asia’s first company to import LNG, did not buy any cargoes from from Trinidad & Tobago, Peru and Yemen in 2013. The company owns and operates the Map Ta Phut terminal in Rayong, which has capacity of 5mn tonnes a year.
PTT received a 91,475 tonne shipment from Qatar in December and paid 2.61bn baht, or about $16.83 per million Btu. PTT in November bought four spot cargoes for delivery from December to March on an oil-linked price formula, according to two people with knowledge of the transaction.