Thai minister seeking energy ties with Russia,Indonesia<\/p>\n
Dow Jones,Bangkok<\/p>\n
Thailand's Energy Ministry is pursuing cooperation with Russia
\nand Indonesia that will pave the way for Thai companies to invest
\nin petroleum exploration and power plant construction, Minister
\nPrommin Lertsuridej said on Wednesday.<\/p>\n
The collaboration also aims to boost trading in petroleum
\nproducts between Thailand and the two countries, Prommin added.<\/p>\n
\"Thailand and Russia have agreed to set up a committee to
\nstudy possibilities on petroleum trading as well as investment in
\npetroleum exploration and pipeline network construction,\" Prommin
\ntold a press conference on Wednesday after meeting with Vladimir
\nKarastin, deputy minister of Russia's Economic Development and
\nTrade Ministry.<\/p>\n
\"If it's feasible, we may import oil from Russia to reduce
\ndependency on the Middle East,\" he added.<\/p>\n
Prommin said Russian companies have expertise in oil pipeline
\nnetwork installation. He said Russia may get involved with
\nThailand's trans-peninsular pipeline project to link the Andaman
\nSea and Gulf of Thailand, which would serve as an alternative
\nroute between the Indian Ocean and South China Sea.<\/p>\n
In addition, Thailand will seek opportunities to develop gas
\nfields in Indonesia and to construct power plants at coal mines
\nin Indonesia, said Prommin.<\/p>\n
Indonesia, which has shortage of power supply, has asked the
\nElectricity Generating Authority of Thailand, or EGAT, to invest
\nin power plant construction, he added.<\/p>\n
State-owned PTT PCL, the country's oil and gas conglomerate,
\nits unit PTT Exploration & Production PCL, and EGAT will take the
\nlead in seeking business opportunities in the two countries,
\nPrommin said.<\/p>\n
According to Prommin, the Singapore government has expressed
\nan interest to jointly invest in the Thailand's land bridge
\nproject, which includes petroleum terminals and trans-peninsular
\npipelines. The project involves an investment of US$700 million.<\/p>\n
Prommin said he will hold talks with Japan's Bank of
\nInternational Cooperation, or JBIC, Itochu Corp. and Mitsui Oil
\nExploration Co. to seek collaboration and investment in the
\nproject.<\/p>\n
PTT, in which Thailand's Finance Ministry holds a 69 percent
\nstake, also entered into a memorandum of understanding with China
\nNational Chemical Import & Export Corp., or Sinochem, to seek
\nbusiness opportunities in petroleum trading and investments in
\nenergy infrastructure.<\/p>\n
\"The collaboration with our alliances will lead to the success
\nof the land bridge project and to secure the energy supply in the
\nregion,\" Prommin said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/thai-minister-seeking-energy-ties-with-russiaindonesia-1447893297",
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"sponsor": "Okusi Associates",
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