Thailand PTT's $2.8bn investment paves way to decarbonization

State-owned energy company to build LNG facilities and produce EVs, hydrogen

PTT is using natural gas as an energy source as it transitions to decarbonization. (Photo by Nozomu Ogawa)

KOSUKE INOUE, Nikkei staff writer

March 14, 2023 12:00 JST

BANGKOK -- Thailand's state-owned energy company PTT Group is accelerating its shift to an environment-friendly business model.

PTT has a huge presence in the nation's energy market and recently revealed a plan to spend some 100 billion baht ($2.86 billion) in the coming five years to increase liquefied natural gas (LNG) import stations and help produce electric vehicles. PTT's strategic change is indispensable to the Thai government's decarbonization goal.