Thai energy company fuels investment in Laos
Thai energy company fuels investment in Laos
Thai state-owned oil and gas company, PTT Public Company Limited, expects to invest up to 208 billion kip (800 million Thai baht) in the Lao fuel market in the next five years.
“We plan to increase the number of petrol stations from the current 20 stations to 60,” PTT representative Dr Pailin Chuchottaworn said on Monday at the opening of a new service station in Nongtaeng village, Sikhottabong district, Vientiane.
Industry and Commerce Minister Dr Nam Vinhaket and Vientiane Mayor Mr Soukanh Mahalath also attended the opening ceremony.
Laos imports more fuel every year, mainly from Thailand, leading PTT to extend its interests in the Lao market.
Dr Nam said “Petrol consumption in Laos is growing rapidly and services in this area need to be developed so that that competition can flourish.”
In 2009, fuel consumption in Laos stood at about 640 million litres and rose to over 700 million litres in 2010, according to the Lao Petroleum and Gas Association.
Consumption is expected to increase by 7 percent this year to more than 800 million litres, exceeding last year's figure of about 750 million litres.
Dr Pailin said Asean nations are the largest market for fuel, as they have a combined population of over 600 million. Laos' central location in the area puts it at the hub of a grouping that includes Thailand, Vietnam, Myanmar, Cambodia and China. China alone has a population of over 1.3 billion people.
PTT Lao – a wholly owned subsidiary company of PTT Public Company Limited – was formerly known as Houakhong Trading. The company's business activities include retail service stations and commercial marketing
vientiane times
