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  5. > Thailand Oil and Gas Report Q4 2016

Thailand Oil and Gas Report Q4 2016

  • August 2016
  • -
  • Business Monitor International
  • -
  • 83 pages

Includes 3 FREE quarterly updates



BMI View:
Thailand's planned LNG import terminal at Rayong, expected to commence operations in 2023,will enable the government to import more LNG to manage falling domestic gas production and limit risksto the security of gas supply from Myanmar. Strong consumer demand for gasoline and constructiondemand for diesel, combined with low oil prices, will provide the impetus for Thailand's refiners tomaximise production over the next two years and raise the country's refined fuels net exports.

Latest Updates And

Key Forecasts



- Thailand's crude oil production will peak in 2016 and is expected to remain relatively stable over thecoming years as several field re-developments and production maintenance programs should stem fieldproduction declines at larger fields.

- Ophir Energy highlighted in 2016 that a potential third phase of development for the Bualuang field iscurrently being considered. FID could be reached over H216.

- Thailand's domestic gas production has slowed since 2013 and fell in 2015. We maintain our forecast fordomestic gas production to be on a downtrend, as weak LNG prices will encourage PTT to substitutesome gas purchases from domestic sources with LNG imports.

- With the Thai government planning to auction the licenses for Bongkot and Erawan fields, which willexpire in 2022-2023, we highlight that the risk of disruption to the country's gas supply is small. PTTEPwill continue to operate the Bongkot field and is capable of maintaining production, while output fromErawan field is small and can easily be substituted with LNG imports should the current operatorChevron fail to secure the bid.

- Strong consumer demand for gasoline and construction demand for diesel, combined with low oil prices,will provide impetus for Thailand's refiners to maximise production over the next two years and raise thecountry's refined fuels net exports.

Table Of Contents

Thailand Oil and Gas Report Q4 2016
BMI Industry View 7
Table: Headline Forecasts (Thailand 2014-2020) 7
SWOT 9
Oil and Gas SWOT 9
Industry Forecast 10
Upstream Exploration 10
Latest Updates 10
Structural Trends 10
Table: Proven Oil and Gas Reserves (Thailand 2014-2019) 12
Table: Proven Oil and Gas Reserves (Thailand 2020-2025) 12
Upstream Projects 13
Table: Thailand Major Upstream Projects 13
Upstream Production - Oil 16
Latest Updates 16
Table: Oil Production (Thailand 2014-2019) 18
Table: Oil Production (Thailand 2020-2025) 19
Upstream Production - Gas 20
Latest Updates 20
Structural Trends 20
Expiry Of Concessions A Limited Threat To Gas Production 22
Table: Gas Production (Thailand 2014-2019) 25
Table: Gas Production (Thailand 2020-2025) 25
Refining 26
Latest Updates 26
Structural Trends 26
Table: Refining Capacity and Refined Products Production (Thailand 2014-2019) 29
Table: Refining Capacity and Refined Products Production (Thailand 2020-2025) 29
Refined Fuels Consumption 30
Latest Updates 30
Structural Trends 30
Table: Refined Products Consumption* (Thailand 2014-2019) 34
Table: Refined Products Consumption* (Thailand 2020-2025) 34
Gas Consumption 34
Latest Updates 34
Structural Trends 34
Table: Gas Consumption (Thailand 2014-2019) 37
Table: Gas Consumption (Thailand 2020-2025) 37
Trade - Oil 37
Crude Oil Trade Forecast 37
Latest Updates 37
Structural Trends 37
Table: Crude Oil Net Exports (Thailand 2014-2020) 39
Table: Crude Oil Net Exports (Thailand 2020-2025) 39
Refined Fuels Trade Forecast 39
Latest Updates 39
Structural Trends 40
LPG Trade Liberalisation Upside To Imports 41
Table: Refined Fuels Net Exports (Thailand 2014-2019) 44
Table: Refined Fuels Net Exports (Thailand 2020-2025) 44
Trade - Gas (Pipeline And LNG) 44
Latest Updates 44
Structural Trends 45
Table: Thailand's LNG Import Terminals 46
Table: Gas Net Exports (Thailand 2014-2019) 49
Table: Gas Net Exports (Thailand 2020-2025) 49
Industry Risk Reward Index 50
Asia - Risk/Reward Index 50
Table: Asia's Oil and Gas Risk/Reward Index 50
Table: Asia: Upstream Risk/Reward Index 53
Table: Asia: Downstream Risk/Reward Index 55
Thailand - Risk/Reward Index 57
Upstream Index 57
Downstream Index 58
Market Overview 59
Thailand Energy Market Overview 59
Regulatory Structure 59
Fiscal Regime 60
Table: Thailand - Upstream Tax Regime 60
Table: Thailand - Contracts and Licensing Regime 60
Exclusive Economic Zone 60
Licensing Rounds 61
Oil And Gas Infrastructure 62
Table: Oil Refineries In Thailand 62
Oil Terminals/Ports 63
Table: Thailand - Existing and Planned LNG Terminals 63
Gas Storage Terminal 64
Table: Thailand - Gas Pipelines 64
Table: Thailand - Crude Oil Pipeline 64
Competitive Landscape 65
Table: Key Players In Thailand's Oil and Gas Sector 66
Company Profile 67
PTTEP 67
Latest Updates 67
Table: Major Upstream Assets In Thailand 68
Table: Key Financial Data, USDmn 68
Regional Overview 69
Asia - Positive Gas Output Growth In Conflict With Bearish Oil Outlook 69
Glossary 76
Table: Glossary Of Terms 76
Methodology 78
Industry Forecast Methodology 78
Source 80
Risk/Reward Index Methodology 80
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 82
Table: Weighting 83

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