Thailand EGCO wants to import LNG to fuel power plants
Source：The Nation Newspaper
From：Taiwan Trade Center Bangkok
Update Time：2020/09/20
The Electricity Generating Co (EGCO Group) is set to apply for a licence from the Energy Regulatory Commission to import liquefied natural gas (LNG), said EGCO Group president Thepparat Theppitak.
The imported LNG will fuel its own power plants, he added.The company also plans to join with its existing community enterprise partners to invest in community power plants in many areas.Thepparat expects the company's operating profit this year will be close to last year’s figure of Bt10.368 billion.
EGCO Group reported net second-quarter profit of Bt5.075 billion, up 29 per cent year on year. The increase was contributed mainly by foreign exchange gain. Net profit for the first half of 2020 was Bt4.662 billion, down 39 per cent year on year.
However, EGCO Group has managed to maintain a debt to equity ratio of only 1.19.In response to the operating performance, EGCO’s board of directors resolved to pay an interim first-half dividend of Bt3 per share on September 17.The group also reports good progress in all of its four projects – three power plants and one related business.
The Gangdong Fuel Cell Project in South Korea is 98 per cent complete and expected to start commercial operation in the fourth quarter of this year.
The Nam Theun 1 Hydropower Project in Laos is 74 per cent complete and scheduled to begin operating in the second quarter of 2022.
The Yunlin Offshore Windfarm in Taiwan is 48 per cent complete and set to launch commercial operations in the third quarter of 2021.
Meanwhile, the extension of the petroleum pipeline in Northeast Thailand is 43 per cent complete and expected to come online in the fourth quarter of 2021.
The company is also looking for new opportunities to invest in upstream fuel infrastructure to boost the value of its core business.
Source：https://www.nationthailand.com/