PTT, FTI set stage for Thailand’s clean energy future at annual forum

PTT and the Federation of Thai Industries (FTI) announced their commitment to driving Thailand’s clean energy transition at the 13th Annual Petroleum Outlook Forum on Thursday at the PTT headquarters in Bangkok.

The forum, which focused on fuel price analysis, global energy trends and challenges, featured insights from energy specialists, including experts from PTT Prism and FTI’s Petroleum Refining Industry Club.

PTT CEO Kongkrapan Intarajang noted that the current energy situation is influenced by several factors, such as climate change, geopolitical conflicts, energy transition and public sector regulations and policies. These challenges, he said, have prompted several countries, including Thailand, to focus more on clean energy. At the same time, these factors have driven energy-related businesses to adapt and collaborate in advancing eco-friendly energy solutions.

This year’s event, themed “Regenerative Thailand with Cleanergy”, aligns with PTT’s goal of enhancing energy security, reducing greenhouse gas emissions and driving Thailand towards becoming a low-carbon society. Kongkrapan said this initiative seeks to improve the quality of life, preserve the environment and ensure sustainable growth.

Rungnapa Janchookiat, president of FTI’s Petroleum Refining Industry Club, confirmed that Thai refineries are well-prepared to enhance their competitiveness in the global energy sector.

For example, oil refineries have secured crude oil to meet domestic demands and mitigate energy price volatility caused by geopolitical conflicts. Additionally, they are accelerating the transition to clean energy by developing eco-friendly fuels, such as Euro 5 diesel, which contains a lower level of sulphur dioxide, and sustainable aviation fuel.

Meanwhile, experts from PTT Prism predicted an increase in fuel demand next year, driven by positive sentiment surrounding declining US interest rates and China’s economic stimulus measures. However, a potential trade war triggered by US President-elect Donald Trump could disrupt the global economy and energy industry.

Fuel supply is also expected to rise due to increased oil production capacity among non-OPEC+ countries, especially the US, Canada, Brazil and Guyana. OPEC+ countries (Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, and Sudan) have also voiced plans to gradually boost their oil production capacity.

However, uncertainties surrounding geopolitical conflicts, US fuel demand after the election and its strict sanctions against Iran may make the price of oil volatile, fluctuating between US$70 and $80 per barrel.

At the forum, FTI chairman chairman Kriengkrai Thiennukul delivered a speech on the global energy situation after the US election.

A panel discussion on the “Future Energy in Thailand” was also held. It featured Energy Policy and Planning Office’s director-general Wattanapong Kurovat, Toyota Motor Thailand’s honorary adviser and National Hydrogen Association’s chairman Ninnart Chaithirapinyo, Banpu’s COO Kirana Limpaphayom, Thailand Institute of Nuclear Technology’s executive director Thawatchai Onjun, and Nopasit Chaiwanakupt, executive vice president of PTT Exploration and Production’s Technology, Carbon Solutions and Sustainable Growth Group.

Several other energy experts also shared their insights on advancing clean energy policies in Thailand to ensure the country’s sustainable and robust growth.

Those interested can visit prism.pttgrp.com or follow PTT Prism on YouTube and Facebook for more valuable information on the energy industry.