B.Grimm Power, Thailand's B.Grimm Power, seeks LNG supply for short- and long-term periods

A company executive revealed at the Asia Gas Markets Conference on Tuesday that B.Grimm Power, Thailand's largest power firm, is looking to purchase five to seven cargoes of liquefied gas for delivery between 2025 and 2026.

Andrew Kirk, B.Grimm Power's head of LNG, has said that the company is looking to secure a long-term LNG deal of up to one million tons after these initial short term cargoes.

He said that the company's gas fired power plants would be able to supply its own needs by 2028.

The Energy Regulatory Commission of Thailand has allocated B.Grimm a LNG import quota for 1.2 million tons per year.

The company received its first spot shipment in August and, earlier this month, it tendered its third spot shipment for delivery in December.

Could not determine details about B.Grimm’s second imported cargo.

Kirk stated that Thailand will import more LNG in the future as domestic gas production and coal are phased out.

He said that the demand for LNG in Southeast Asia will be high as people are moving away from coal. As domestic production decreases, such as in Thailand, more LNG imports will occur.

The gulf is a mature basin. Myanmar's gas is declining and is expected to be finished by 2028-2029. This will increase the demand for LNG.

Thailand is Southeast Asia’s largest LNG importer. According to Kpler's data, Thailand imported 11,69 million tons last year. So far, it has imported 10.18 million tonnes of LNG. (Reporting and editing by Clarence Fernandez, Varun H K and Emily Chow from Singapore)

(source: Reuters)