Business

Qatar replaces Yemen as Thailand’s biggest LNG supplier in 2013

National Yemen

Yemen LNG terminal Balhaf

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