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Sunday, September 25, 2016

Thailand Urges US to Supply LNG Long Term

December 2, 2012

During President Obama's recent visit Thai Prime Minister, Yingluck Shinawatra sought agreement with US for LNG supply over next 20-years.

By 2020, the US should be able to produce gas and crude of about 11.1 million barrels a day, while Saudi Arabia's capacity is projected at 10.2 million barrels a day. If the US can maintain that capacity throughout 2035 as planned, it would be the world's largest exporter of crude, reports the Bangkok Post.

At a seminar entitled "Thailand's Economic Outlook" in Bangkok , Virabongsa Ramangkura, chairman of Thailand's Strategic Committee for Reconstruction and Future Development pointed out that though Thailand has not entered into an FTA with the US, Thailand is treated as a Non-FTA Partner, and it has bought energy at lower prices than market leader Saudi Arabia is charging on the global market.

By 2020, the US should be able to produce gas and crude of about 11.1 million barrels a day, while Saudi Arabia's capacity is projected at 10.2 million barrels a day. If the US can maintain that capacity throughout 2035 as planned, it would be the world's largest exporter of crude.

Source: Bangkok Post
 



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