Thai olefin majors to supply ethylene to Japan

25-Jan-05

Thai Olefins Plc (TOC), Thailand's second largest olefin producer and PTT Plc, Thailand's largest oil conglomerate, have signed a 4 billion baht agreement to supply more than 100,000 tpa of ethylene to a major chemicals producer in Japan. With this confirmed supply from January 1, 2005 to the end of the year, the two majors expect a betetr performance, provide increased opportunities to expand businesses overseas and help boost PTT’s natural gas derived from oil fields in the gulf of Thailand. The two Thai majors can now operate their plants at full capacity, as current domestic consumption stands at only 140,000-150,000 tpa. Business partners for PTT under this agreement include Mitsui and Marubeni Corporation. They have a substantial market share in north and south-east Asia, and supply ethylene to various plants in Taiwan and Indonesia.