Bangkok: PTT Public Company Limited (PTT) has entered into a strategic partnership aimed at strengthening its petrochemical business by importing ethane. The company has signed an agreement with MISC Berhad, a global leader in liquefied gas transportation, to hire Very Large Ethane Carriers (VLECs) for transporting ethane. This collaboration also involves PTT Global Chemical Public Company Limited (GC).
According to Thai News Agency, the VLECs commissioned by PTT will rank among the largest dual-fuel vessels globally, capable of running on both oil and ethane. This feature aligns with PTT’s goal to reduce greenhouse gas emissions. Leveraging its experience in international trade and transportation, as well as its robust network of trading partners, PTT aims to provide ethane import vessels for GC. This initiative is a crucial step toward enhancing the stability of the petrochemical industry’s supply chain, thereby allowing PTT to carve out a niche in the ethane transport market and maximize the group’s overall value.
Furthermore, GC has secured a long-term ethane supply agreement with an affiliate of Enterprise Products Partners LP, a prominent U.S. ethane supplier. This agreement is set to bolster long-term petrochemical feedstock security, improve competitiveness, and achieve cost efficiency, thereby promoting sustainable growth for the PTT Group in the long run.
