Thailand's PTT signs deal with Qatargas

Thailand's top energy firm PTT said on Wednesday it had signed a deal with Qatargas Operating Company to import one million tonnes of liquefied natural gas (LNG) each year.

Under the deal, PTT will get LNG from the gas-rich Gulf emirate of Qatar after Thailand finishes building a receiving port terminal in 2011, the Thai energy giant said. The company declined to give the value of the agreement.

Thailand depends on natural gas for more than 65 per cent of its electricity output, and imports about 20 per cent of its gas from military-ruled neighbor Myanmar.

Qatar has the world's third largest natural gas reserves after Russia and Iran. (AFP)