The production of Natural Gas Liquids (NGLs) in Thailand showed fluctuations over the past decade. Starting in 2013, production was at 224.94 thousand barrels per day and saw an overall increase reaching a peak in 2018 at 247.0 thousand barrels per day. However, from 2020 onwards, a notable decline occurred, with production falling to 187.78 thousand barrels per day in 2022. As of 2023, production stands at 189.63 thousand barrels per day.
Analyzing recent trends:
- From 2020 to 2021, production saw a slight recovery with a 2.46% increase.
- From 2021 to 2022, there was a significant drop of 16.18%.
- In 2023, a minimal uptick of 0.98% was observed.
Looking forward, the forecast predicts a gradual increase in production, reaching 196.73 thousand barrels per day by 2028. The forecasted compound annual growth rate (CAGR) over the next five years is 0.56%, indicating a modest but steady recovery.
Future trends to watch for:
- Technological advancements in extraction and production efficiency.
- Government policies and regulations impacting the energy sector.
- Global market demand and how it influences local production.
- Potential investments in infrastructure and resource management.
