Thailand Oil & Gas Q2 2020
Thailand’s upstream outlook is deteriorating, as declining domestic oil and gas production drives deeper need for energyimports. A successful launch of its long-delayed offshore licensing round, currently slated for 2020, remains crucial for oil and gasoutput moving forward, although would need to be preceded by sufficient positive regulatory reforms in order to attract investors.The downstream market is mature and offers relatively little room for substantial incremental growth, while long-term risks areweighted to the downside, amid slowing car sales and expanding biofuels mandate. LNG imports are set to expand at a robust rateover the next decade, both to offset the decline in domestic supply for power generation, and as the Thai government advances itsambition of becoming a regional LNG trading hub.
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