Bangkok has hosted the first meeting of the Joint Coordinating Committee between OAO Gazprom and PTT Public Company Limited (PTT), Thailand’s oil and gas company. The meeting was co-moderated by Andrey Kruglov, Deputy Chairman of the Gazprom Management Committee and Chitrapongse Kwangsukstith, Senior Executive Vice President of PTT.

The parties addressed the major opportunities for cooperation in Russia, Thailand and third countries.

The parties agreed to jointly study potential projects covering natural gas, oil, LNG and petrochemical products supplied to the markets of Thailand and Asia Pacific as well as issues surrounding oil storage and oil & gas processing. The main aspects of cooperation will be addressed with the participation of Gazprom research and development institutes.

Additionally, the meeting reviewed the prospects for cooperation in the apprenticeship, qualification upgrading and re-training sectors.

In order to implement the accords achieved within the Committee’s meeting the parties will set up a joint working group.

The meeting resulted in the parties signing a relevant Protocol.

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Thailand’s total C1 + C2 + C3 natural gas reserves account for 946.1 bcm as of early 2006.

In 2005 natural gas production was at 21.4 bcm with annual consumption making up 29.9 bcm. Thailand’s primary energy mix is comprised of natural gas (33 per cent), oil (52 per cent), coal (13 per cent) and hydropower (2 per cent).

There are currently three gas mains in Thailand with two of these delivering gas produced offshore in the Gulf of Siam and the third importing natural gas from Myanmar.

PTT Public Company Limited (PTT), Thailand’s state owned oil and gas company, was established in 1978. The company’s main business areas are oil & natural gas exploration, production, storage, transportation, distribution and marketing, oil import, oil processing, petrochemistry, power generation and supply.

68 per cent of PTT is owned by Thailand’s government, with the remaining 32 per cent of shares being traded on the stock exchange.

PTT is engaged in oil and gas projects abroad including in Myanmar, Oman, Vietnam, Indonesia and Algeria.