Gulf Signs LNG Deal with PetroChina for 300,000 Tons
Thai energy firm Gulf Energy Development has signed a deal to supply 300,000 tons of LNG to China's PetroChina in 2027. The agreement, executed through Gulf's Singapore trading subsidiary, marks the company's shift from domestic supply toward international LNG portfolio management. Gulf aims to combine its Thai infrastructure with PetroChina's global market access to expand its energy trading footprint.
Gulf Energy Development (GULF) has signed an LNG sales agreement with PetroChina International (Singapore) Pte. Ltd. (PCSG), a subsidiary of China's leading global energy company PetroChina. The collaboration will be carried out through Gulf LNG International (GLNGI), GULF's Singapore-registered subsidiary engaged in international LNG trading. Under the agreement, GLNGI will deliver four LNG cargoes totaling approximately 300,000 tons in 2027 for shipment to China. This represents another important milestone in GULF's expansion of its LNG business from domestic supply toward international LNG portfolio management and trading.
GLNGI operates LNG procurement and trading under the management of GULF Resources, GULF's resource business group covering LNG sourcing and trading, LNG receiving terminal and storage infrastructure, marine transportation, and natural gas distribution.
Dhisat Panyarachun, CEO of GULF Resources, emphasized that the partnership builds on the business relationship with China's premier energy company, a core strategy to combine both firms' strengths to create added value and expand the LNG trading base into global markets. GULF will integrate its robust Thai LNG infrastructure and flexible portfolio management capabilities with PetroChina's commercial network and market access to enhance international trading efficiency.
At the same time, LNG procurement to support GULF's domestic power plant operations continues as planned. The partnership marks another step in GULF's LNG business evolution from focusing on domestic supply toward full gas value chain portfolio management, establishing a trading foundation to expand cooperation with global partners and support GULF's long-term growth.
