Thai energy agency makes strong case for OCA development
The Energy Policy and Planning Office (EPPO) has suggested that the development of gas resources from the Overlapping Claims Area (OCA) could play a crucial role in stabilising Thailand's energy market.
Sarat Prakorbchat, deputy director-general of the EPPO, said during a panel discussion at the Thansettakij conference that while the country's natural gas demand may remain relatively stable, ensuring a reliable supply is paramount. The OCA, if developed, could significantly contribute to this goal.
"What we want is natural gas that is both affordable and stable," said Sarat. "The OCA, if clearly defined and implemented, can help us achieve long-term energy security."
Rising demand, changing consumption patterns
Thailand's energy consumption has been steadily increasing, with electricity demand growing by an average of 2% annually. This trend, coupled with shifting consumption patterns, such as the surge in electric vehicle (EV) adoption and the increased use of renewable energy, presents new challenges for the country's energy planners.
The EPPO is adapting to these changes by revising its electricity consumption guidelines. Key adjustments include:
- Peak demand shift: Recognising the shift in peak demand hours to the late afternoon.
- EV integration: Addressing the impact of electric vehicles on the electricity grid.
- Renewable energy transition: Accelerating the adoption of clean energy sources to meet the target of 51% clean energy consumption by 2037.
Fuel consumption trends
According to the latest data from the Department of Energy Business, Thailand's refined oil consumption increased by 1.2% year on year in the first nine months of 2024. This growth was primarily driven by increased demand for petrol and jet fuel, fuelled by the tourism sector's recovery.
Natural gas consumption also rose by 3.2% during the same period. While domestic production and imports from Myanmar continue to be significant sources, the country remains reliant on LNG imports to meet its growing demand.
The EPPO's focus on the OCA and its efforts to promote a more sustainable and resilient energy future are crucial for Thailand to navigate the complexities of the global energy landscape, Sarat stated.
