PTT eyes joint Asean gas-field development

PTT president and CEO Prasert Bunsumpun said yesterday that Natuna is a large field that could satisfy demand from several countries, including Thailand, Singapore and Malaysia.

"There was a discussion on joint development, as it would entail huge investment," he said.

Prasert said the field's gas contained a high level of carbon dioxide and part of the investment would be spent on CO2 extraction. Meanwhile, there will be discussions on the laying of 1,000 to 2,000 kilometres of natural-gas pipelines to link the countries that pour investment into the field.

He expressed satisfaction over the meeting, which could lead to joint investment in several energy areas, as each Asean country is strong in different fields. For example, Asean is paying more attention to biomass energy and biodiesel, which are both areas in which Thailand has potential.

Energy Minister Poonpirom Liptapanlop said yesterday that aside from the Natuna development, Asean was also committed to pushing ahead with an additional 11 projects to complete the regional power grid. Three projects have been kick-started.

On emergency oil reserves, Poonpirom said each country would amend its rules to pave the way for signing an accord late this year.

Under the accord, oil-producing countries in Asean are committed to shipping crude to countries suffering from shortages. At times of oversupply, non-oil producing countries will buy stock from producer nations.

Asean energy ministers also agreed to an oil-stockpiling road map, with a view to strengthening regional reserves as a cushion against shortages and skyrocketing prices. The road map will be discussed in November in the Philippines.

Meanwhile, Asean+3 (China, Japan and South Korea) agreed to complete a scenario analysis on the outlook for energy demand up to 2030.

Thailand also proposed a regional drive to make Asean a trading hub for biofuel (ethanol and biodiesel).

Asean+6, which includes Australia, New Zealand and India, endorsed the Asia Biomass Energy Principles for monitoring biofuel production and consumption. The principles also set out measures to prevent negative impacts on the food sector.

The meeting also considered the safe use of civilian nuclear energy. This was proposed by South Korea, which is a proponent of nuclear power generation and is ready to transfer know-how and educate interested member nations.