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Published on March 11, 2008

Energy Minister Poonpirom Liptapanlop yesterday discussed with ministers from six oil-exporting countries about possible joint investment in natural-gas exploration and production, particularly in southern Thailand.

"The discussion will open new markets for more supply of natural gas," she said.

Oman, Yemen, Nigeria, Qatar, Bahrain and Brunei were the six countries at the meeting, which took place on the sidelines of Gastech 2008, which kicked off yesterday.

More than 1,000 representatives of oil companies from 50 countries are attending the Gastech meeting.

Prasert Bunsumpun, president of national oil and gas company PTT, said Thailand had told the energy ministers it wants to buy more liquefied natural gas (LNG) from these countries if they raise their capacity. They agreed to negotiate on future purchases.

Oil companies gathering at Gastech said LNG would play a bigger role in the future, as it is clean and cheap.

Exxon Mobil estimated that global demand would rise five fold over 30 years to 500 million tonnes in 2030.

Thailand's natural-gas consumption is expected to rise to 5 billion cubic feet per day in 2022 from 3.3 billion at present.

Jim Blackwell, president of Chevron Asia Pacific Exploration and Production Co, said Asia-Pacific is becoming the biggest region for gas consumption.

Gas production and supply would become more complicated in terms of marketing, investment and technology. All parties must acknowledge the others' rules, share their expertise and split profits equally, he said.

Andy Swiger, president of ExxonMobil Gas and Power Marketing Co, said global gas use would grow more than 25 per cent by 2020 and that the areas of high demand would be Asia, Africa and South America.

Brunei Energy Minister Yahya bin Begawan noted that though oil prices have passed their peak, oil companies have yet to introduce new technology to lessen pollution.

"There is no more cheap oil. Brunei is introducing pressure technology for gas production. This technology will save energy by 40 per cent," he said.

Energy Reporters

The Nation