Connect with us

Business

Thailand Energy Analysis (EIA)

Boris Sullivan

Published

on

Thailand has limited domestic oil production and reserves, and imports make up a significant portion of the country’s oil consumption. Thailand holds large proven reserves of natural gas, and natural gas production has increased substantially over the last few years.

Loading...

However, the country still remains dependent on imports of natural gas to meet growing domestic demand for the fuel.

In September 2006, a military coup overthrew the government of Prime Minister Thaksin Shinawatra. The change in leadership and subsequent protests have had little impact on oil or natural gas production.

Thailand’s real gross domestic product (GDP) grew only 0.1 percent year over year in 2011, down from a high growth of 7.8 percent in 2010 due to the global economic recession and extensive flooding during the latter half of 2011.

The Thai government forecasts its economy to grow by 5.5 percent in 2012 in anticipation of post-flood reconstruction and higher domestic demand. In turn, oil and gas production and consumption are expected to increase slightly in 2012 and 2013, and industry sources estimate that the first half of 2012 shows a recovery in both oil and gas supply and demand from 2011 levels.

Thailand’s primary energy consumption is mostly from fossil fuels, accounting for over 80 percent of the country’s total energy consumption. Oil was 39 percent of total energy consumption in 2010, down from nearly half in 2000.

Solid biomass and waste account for 16% of energy consumption

As the economy expanded and industrialized, Thailand consumed more oil for transportation and industrial uses. Natural gas has replaced some oil demand and is the next largest fuel, growing to nearly a third of total consumption mix. Solid biomass and waste have played a strong role as an energy source in Thailand and comprise roughly 16 percent of energy consumption.

Most biomass feedstock is from sugarcane, rice husk, bagasse, wood waste, and oil palm residue and is used in residential and manufacturing sectors. Thailand has promoted biomass for heat and electricity, though growth has been very gradual due to industry inefficiencies and environmental concerns. Thailand’s new Alternative Energy Development Plan calls for renewable energy to increase its share to 25 percent of total energy consumption by 2022 in efforts to reduce dependence on fossil fuels. However, this is an ambitious target requiring significant resource development and subsidies.

As Thailand continues to expand economically, it will place greater emphasis on energy supply security by diversifying its fuel slate and promoting upstream development of hydrocarbons including alternatives to conventional fuels.

via Thailand – Analysis – U.S. Energy Information Administration (EIA).

Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

Avatar

Published

on

On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

Loading...
(more…)

Continue Reading

Business

Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

Avatar

Published

on

By

The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

Loading...
(more…)

Continue Reading

Business

Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

Published

on

Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,079 other subscribers

Latest

Trending