Vientiane: PTT Group and the Lao State Fuel Enterprise have formalized a fuel purchase agreement aimed at bolstering energy security between Thailand and Laos. This strategic move underscores the commitment of both nations to strengthen their bilateral cooperation in the energy sector.
According to Thai News Agency, the signing ceremony for this significant agreement was recently held at the Ministry of Industry and Trade in Vientiane, Laos. The event was graced by the presence of key officials, including Dr. Manothong Vongsai, Deputy Minister of Industry and Trade of Laos; Mr. Phiroon Krimvongrat, Senior Vice President of the Downstream Petroleum Business Group at PTT Public Company Limited; Mr. Viengthong Vongthavilay, Director of the Lao Fuel State Enterprise; Mr. Songphon Thepnamsomanus, Senior Vice President of International Business at PTT Oil and Retail Public Company Limited; and Mr. Khwanchai Leuangchaichan, Senior Manager of Petroleum Business at IRPC Public Company Limited.
The agreement is designed to enhance the energy security and stability of the regional oil supply system. It aligns with the Thai Ministry of Energy's policy to provide Laos with high-quality and standardized fuel, ensuring consistent and efficient energy needs are met through transparent and sustainable trading mechanisms. This collaboration highlights PTT Group's proactive approach as a leading Thai energy organization, firmly committed to supporting regional energy security. The initiative operates within a commercial framework, receiving robust policy support from government agencies in both countries.