Thai government accord with Cambodia on overlapping claims in Gulf of Thailand imperative for petrochem industry

14-Oct-11
The Thai petrochem industry could see major losses in the event of failure of its government to strike an agreement with neighboring Cambodia on overlapping claims in the Gulf of Thailand. Thailand needs Cambodia to unlock ‘huge’ gas reserves in the Gulf of Thailand, as per Bloomberg. Thailand is likely to deplete its gas in 15 years-its petrochemical makers rely on components of wet gas from the Gulf of Thailand. Development in the 26,000 sq kms, more than twice the size of Qatar, has stalled for over three decades. Gas reserves in the disputed zone are estimated to be equal to the country’s current reserves, which BP Plc estimates at 11 trillion cubic feet. It will take at least 10 years to pump gas out of the ground after a political agreement is reached. A political concurrence seems likely as Cambodia is determined to amicably resolve the dispute.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha