Worried about high electricity costs, Spot LNG prices on the world market have increased to 14.271 USD/million BTU.
Mr. Watthanaphong Kurovat, Director of the Energy Policy and Planning Office (EPPO), the EPPO has been following the situation of the price of liquefied natural gas in the spot market or Spot LNG during the period 18 - 22 September 2023 and found that the price of Spot LNG Average this week Increased from the previous week by 1.104 USD/million BTU. came to a level of 14.271 USD/million BTU This is because Japan and South Korea have a need for LNG to reserve for use during the upcoming winter. Including the labor union at Chevron's liquefied natural gas (LNG) production plant in Australia. The Gorgon and Wheatstone project raised the level of protest. From September 17, 2023 until the Fair Work Commission came to help negotiate and mediate. Therefore, it can be terminated on September 22, 2023. In addition, the Troll natural gas field, production volume 4, 400 million cubic feet/day of Norway has continued to extend its maintenance shutdown. It is reported that production was able to resume again on September 20th.
Mr. Watthanaphong said that for the natural gas situation, it was found that the price of natural gas (Pool) in August 2023 increased from the previous month by 7.5057 baht/million BTU. came to a level of 333.4681 baht/million BTU Due to the increase in LNG import prices and the weakening exchange rate, the average Spot LNG price in August 2023 increased from the previous month by 1.4027 USD/million BTU. came to a level of 12.6237 USD/million BTU This is because the demand of Asian countries has increased after facing a heat wave.
Mr. Watthanaphong added that Currently, the retail price of natural gas for vehicles (NGV) (stations within a radius of 50 km from the parent station) from 16 September - 15 October 2023 for personal cars is 19.59 baht/kilogram, taxis are 14.62 baht/kilogram. Public transportation is at 18.59 baht/kilogram and for daughter stations that are furthest from the parent station. (Excluding Provincial Administrative Organization maintenance tax) is 23.59 baht/kilogram. Thailand's NGV gas sales volume as of July 31, 2023 is 3,279 tons per day (or approximately 135.55 million cubic feet per day). There are service stations. There are a total of 330 stations still open for service, divided into 18 mother stations, daughter stations and 312 pipeline stations.
Source: Thai News Agency