Centrica and PTT Group Sign Landmark LNG Supply Deal

Centrica, a leading energy firm based in the U.K., has announced a groundbreaking agreement with PTT Group, a state-owned oil and gas giant from Thailand, for a long-term liquefied natural gas (LNG) supply deal. This strategic partnership is set to reshape the LNG market landscape in Asia.

As per the heads of agreement signed between the two companies, PTT will supply LNG to Centrica for a duration of 10 years, catering to various destinations across Asia. The deliveries are slated to commence in 2028, marking the beginning of a mutually beneficial partnership.

This deal is a significant milestone in Centrica’s efforts to bolster its LNG portfolio and expand its presence in the Asian market. By tapping into diverse markets in the region, Centrica aims to strengthen its relationship with PTT, a key player in the Asian energy sector.

For PTT, this agreement signifies its maiden venture into long-term international LNG sales, showcasing the company’s commitment to global energy trade and collaboration with esteemed partners like Centrica.

Chris O’Shea, Centrica’s Chief Executive, on the Partnership

Chris O’Shea, Chief Executive of Centrica, expressed his enthusiasm about the collaboration with PTT, emphasizing the strategic importance of the agreement for both companies. He stated, “We are proud to partner with PTT. This agreement supports our global LNG ambitions and is a testament to the strong partnerships Centrica has built in Asia. LNG is a key part of Centrica’s long-term strategy and will continue to play a pivotal role in enabling the energy transition.”

The partnership between Centrica and PTT underscores the growing significance of LNG in the global energy landscape and highlights the potential for further cooperation between companies from different regions to drive sustainable energy solutions.

With this landmark deal, Centrica and PTT are poised to make a lasting impact on the LNG market, setting a precedent for future collaborations in the energy sector. The agreement not only strengthens their respective positions in the industry but also paves the way for innovation and growth in the realm of LNG supply and distribution.

As the world transitions towards cleaner and more sustainable energy sources, partnerships like the one between Centrica and PTT play a crucial role in shaping the future of energy markets and driving progress towards a greener, more resilient energy ecosystem.