Thailand: Aramco and PTT strengthen partnership on energy cooperation

Both companies have signed a memorandum of understanding to deepen their collaboration in the supply and trading of fuel as well as focusing on clean energies, carbon capture and electric vehicles.

Aramco has announced it has deepened its collaboration with Thailand’s national oil company PTT, amidst the expansion of its presence in Asia. The two companies signed a memorandum of understanding at a ceremony in Bangkok on May 11.

“Today represents an important step forward as we deepen and broaden this relationship to achieve greater cooperation across a wide range of activities, from sourcing crude oil and marketing refining and petrochemical products and LNG, to exploring blue and green hydrogen and progressing other clean energy initiatives,” said Ibrahim Al-Buainain, Vice President of Sales, Trading and Supply Planning for Aramco.

The companies aim to strengthen cooperation across crude oil sourcing and the marketing of refining and petrochemical products and liquefied natural gas (LNG). Other potential areas of activity include blue and green hydrogen and various clean energy initiatives.

“PTT and Aramco have built strong ties around the supply and trading of crude oil and other products. Extending our collaboration across the value chain to include emerging decarbonization initiatives is a great opportunity to strengthen our relationship and foster further business growth. This also aligns with our ‘green and clean’ strategy which aims to reduce greenhouse gas emissions,” added Disathat Panyarachun, Senior Executive Vice President of International Trading Business Unit for PTT.