GULF broadens LNG trading horizons beyond Thailand with PetroChina deal

Thailand's Gulf Development Public Company Limited (GULF) is taking its liquefied natural gas (LNG) business outside Thailand through an agreement with PetroChina International (Singapore) (PCSG), a subsidiary of PetroChina International (PCI), to supply four LNG cargoes, totaling approximately 0.3 million tonnes to China in 2027.

The signing of an LNG sale and purchase agreement (SPA) with PetroChina is perceived to be signaling a pivotal shift for GULF, expanding its operational footprint from fueling domestic power plants to actively managing an international LNG portfolio in partnership with one of the world's major energy networks.

The agreement allows Gulf LNG International (GLNGI), GULF’s Singapore-incorporated LNG trading subsidiary, to supply PCSG with four LNG cargoes, totaling approximately 0.3 million tonnes for delivery to China in 2027.

"This collaboration builds on our business relationship with one of China’s leading energy companies and reflects our strategy of combining the strengths of both companies to create greater value and expand our LNG trading presence in international markets. GULF will leverage its strong LNG infrastructure capabilities in Thailand and flexibility in LNG portfolio management, together with PetroChina’s trading network and market access, to enhance the efficiency of our international trading activities."

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