PTT CEO outlines business strategies for balanced sustainability

Kongkrapan Intarajang, CEO and president of energy giant PTT recently reiterated the company’s new vision and outlined the business strategies it was adopting as part of its “Together For Sustainable Thailand, Sustainable World” approach.

“The company operates on the principle of balanced sustainability, in terms of economy, society, environment, and corporate governance,” he said, adding that PTT’s aim was to be a national energy company benefitting Thailand and all stakeholders.

Regarding business strategies, PTT plans to strengthen and enhance competitiveness in its core hydrocarbon business, which has performed well but needs to evolve. The company must reduce greenhouse gas emissions and adapt to rapidly changing environmental conditions.

For its Upstream and Power businesses, PTT will expand exploration and production with partners, ensuring competitive costs, and push for the development of the overlapping maritime area between Thailand and Cambodia to enhance national energy security. The power generation business is mandated to enhance reliability and decarbonise the PTT group.

For Downstream businesses, PTT will adapt and strengthen collaboration with partners, seeking opportunities for synergy. The oil and retail business will focus on becoming the mobility partner for Thailand, adjusting its investment portfolio to be more substantial and asset-light while maintaining market leadership.

Business operations will also include non-hydrocarbon ventures, which are evaluated from two perspectives: 1) the attractiveness of the business, and 2) PTT's right to participate, leveraging its strengths and strong partners. The investment approach for non-hydrocarbon businesses is as follows:

For electric vehicle (EV) related businesses, the focus will be on EV charging infrastructure, consolidating brands under the PTT group and utilising the OR ecosystem, which has nationwide touchpoints.

In logistics, the focus will be on businesses related to PTT's core operations with existing captive demand, following an asset-light approach and strong partnerships.

In Life Sciences, the business must be financially self-sustaining and create goodwill for society.

Additionally, PTT has plans to balance ESG and reduce greenhouse gas emissions to achieve the Net Zero target. This will be done by promoting hydrogen-related businesses and implementing Carbon Capture and Storage (CCS) projects. The integrated efforts across the PTT group will have clearly defined roles and shared goals to maximise the strengths of each company within the group, with PTT overseeing the overall process.

Kongkrapan noted that PTT prioritises operational excellence to continuously enhance competitiveness and operational efficiency throughout the group. The company also focuses on empowering its workforce, maintaining core values, emphasising good governance and achieving financial excellence.

Furthermore, the PTT group supports Thailand’s Soft Power initiatives by sponsoring 20 sports associations with a budget of 200 million baht, helping to elevate Thai talent to the global stage.

PTT is also implementing social projects in honour of His Majesty the King during this auspicious year. These include the development of a 10-rai public park at Kampaengphet 6 along the Prem Prachakorn Canal, providing a space for exercise and relaxation. Additionally, two short films will be produced, highlighting water resource development projects aligned with the royal initiatives to improve people’s quality of life. Five more films are planned for release this year. The company will also organise a light and sound show at Santichaiprakan Park.

PTT will carry out a reforestation project, planting 72,000 rai of trees, which is expected to absorb 68,400 tons of CO2 annually. Other initiatives include sustainable community development, such as the coffee cultivation and production project in Ler Tor Royal Project, Mae Ramat District, Tak Province, aimed at improving the quality of life for hilltribe communities.