Thailand, Malaysia to set up joint gas project
BANGKOK (July 15) XINHUA - Thai authorities approved a key natural gas project between Thailand and Malaysia, which is expected to benefit the two neighboring countries, the Thai News Agency (TNA) reported Thursday.
The 1.03-billion-U.S. dollar Trans Thailand-Malaysia Pipeline and Natural Gas Separation Plant Joint Venture Project, proposed by the Thai state-run Petroleum Authority of Thailand (PTT), will be a 50-50 joint venture between PTT and Petronas, Malaysia's national oil company, TNA said.
The TTM joint venture would build gas pipeline linking gas fields in the joint development area of the two countries, between the South of Thailand and the North of Malaysia, to a two-unit natural gas separation plant in Thailand's southern province of Songkhla.
The project would benefit the Thai economy in form of natural resource utilization and the stabilization of the energy sector, TNA said.
The project, to be given investment privileges from the Board of Investment (BOI), would also help promote downstream industries, including electricity plants and petrochemical industry in Thailand's five southern provinces, the news agency added. |
