BANGKOK (NNT) – As part of the initiative to make Thailand the energy hub of ASEAN, the Ministry of Energy is urging Thai energy businesses to make more investments in foreign countries, especially those neighboring Thailand.
Delivering special remarks on the Ministry of Energy’s role in promoting Thailand as ASEAN’s energy hub, the Ministry of Energy Inspector General, Prasert Sinsukprasert said today that now is a good opportunity for Thai energy businesses to make foreign investments.
He said the ASEAN region has seen a 16 percent increase in demand for energy, up from an earlier 10 percent, corresponding to regional economic growth, which is expected to benefit Thailand and the country’s ambition to be the region’s energy hub.
The inspector general said the demand will however move fast in keeping with technology, and greater focus on clean energy, as seen in the projected decrease in demand for oil in 2025, while the demand for LNG is expected to increase over the next three years from 7 million to 12 million tons each year. This shift in demand will require the Ministry of Energy to devise new policies and regulations accordingly.
The Thai-Myanmar Business Council President, Krit Ungwithunsathit said today the push for Thailand to become ASEAN’s energy hub is timely, as high economic growth in neighboring countries has led to higher energy demand, providing a great opportunity for Thai investors to make investments in new energy businesses.