BANGKOK, Jan 22 - Energy giant PTT PTT.BK said on Thursday Thailand's natural gas demand in 2009 should be close to last year's level at 3,200-3,300 million cubic feet per day (MMCFD), below its earlier target of 5-7 percent growth because of the economic slowdown.
"Thailand's demand for natural gas should be close to last year, but it won't contract," Chitrapongse Kwangsukstith, PTT's chief operating officer for the upstream petroleum and gas business, told reporters.
Global oil demand is seen declining by 430,000 barrels per day (bpd) in 2009 to 85.43 million bpd, according to a Reuters poll. [nLL361958]
PTT is putting off plans to buy natural gas from the M9 field in Myanmar's Gulf of Martaban from 2012-2013, and from South Bongkot in the Gulf of Thailand expected from 2011-2012, Chitrapongse said.
The M9 block is located about 300 km (186 miles) south of Yangon and was discovered by its PTTEP PTTE.BK subsidiary in early 2007.
PTT has agreed with Qatargas to buy 1 million tonnes of liquefied natural gas (LNG) annually starting in 2011, but will put off negotiating additional supplies for now, Chitrapongse said.
The firm, which does not at the moment import LNG, agreed last year to buy an initial 1 million tonnes of LNG a year from Qatargas, with a potential increase of up to 5 million tonnes a year from other sources.
PTT has been in discussion with different sellers and was still in talks with Indonesia's Tangguh about importing 1 million tonnes per annum of LNG from 2011 and about 3 million tonnes per year from Iran's Pars LNG Ltd.
The deepening of the global financial crisis and the sharp drop in energy prices has forced many companies to scale back spending and delay projects.
Natural gas accounts for two-thirds of the fuel used to generate electricity in Thailand.
"Thailand's demand for natural gas should be close to last year, but it won't contract," Chitrapongse Kwangsukstith, PTT's chief operating officer for the upstream petroleum and gas business, told reporters.
Global oil demand is seen declining by 430,000 barrels per day (bpd) in 2009 to 85.43 million bpd, according to a Reuters poll. [nLL361958]
PTT is putting off plans to buy natural gas from the M9 field in Myanmar's Gulf of Martaban from 2012-2013, and from South Bongkot in the Gulf of Thailand expected from 2011-2012, Chitrapongse said.
The M9 block is located about 300 km (186 miles) south of Yangon and was discovered by its PTTEP PTTE.BK subsidiary in early 2007.
PTT has agreed with Qatargas to buy 1 million tonnes of liquefied natural gas (LNG) annually starting in 2011, but will put off negotiating additional supplies for now, Chitrapongse said.
The firm, which does not at the moment import LNG, agreed last year to buy an initial 1 million tonnes of LNG a year from Qatargas, with a potential increase of up to 5 million tonnes a year from other sources.
PTT has been in discussion with different sellers and was still in talks with Indonesia's Tangguh about importing 1 million tonnes per annum of LNG from 2011 and about 3 million tonnes per year from Iran's Pars LNG Ltd.
The deepening of the global financial crisis and the sharp drop in energy prices has forced many companies to scale back spending and delay projects.
Natural gas accounts for two-thirds of the fuel used to generate electricity in Thailand.
