Thailand’s state-owned oil and gas company PTT has signed a heads of agreement (HoA) with the U.K.-based energy company Centrica Energy for a multi-year supply of liquefied natural gas (LNG).
PTT-Centrica LNG HoA signing ceremony; Source: PTT
Under the deal, PTT is slated to deliver LNG to Centrica for ten years on a delivered ex-ship basis across a range of destinations in Asia. Deliveries are expected to start in 2028.
Centrica views the deal as a significant step forward in its efforts to grow its LNG portfolio. The agreement provides access to diverse markets in Asia, whilst deepening the company’s relationship with PTT, an important partner in Asia.
Centrica’s Chief Executive Officer, Chris O’Shea, commented, “We are proud to partner with PTT. This agreement supports our global LNG ambitions and is a testament to the strong partnerships Centrica has built in Asia. LNG is a key part of Centrica’s long-term strategy and will continue to play a pivotal role in enabling the energy transition.”
Head of LNG at Centrica Energy, Arturo Gallego, described the agreement as a landmark moment for the company’s aspirations to double the size of its LNG business. PTT also sees it as a significant milestone as it is said to be its first long-term LNG sales contract outside of Thailand, in line with its international growth ambitions.
Earlier this week, the Thai player signed a cooperation agreement with Glenfarne Alaska LNG for potential partnership on the Alaska LNG project.
Meanwhile, Centrica recently signed a deal with Equinor to purchase 55 TWh of natural gas per year, or around 5 billion cubic meters (bcm), starting from October 2025. The Norwegian player say the annual volumes under this agreement will cover nearly 10% of total annual UK gas demand.