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Natural gas

Thailand's First Carbon Capture and Storage Project Gets Green Light from PTTEP

Strategic Insights

— 2 min read

PTTEP, Thailand's oil and gas explorer, has approved the development of the country's first carbon capture and storage (CCS) project at its Arthit gas field in the Gulf of Thailand. This groundbreaking project aims to capture and store 1 million tonnes of carbon dioxide per year, making it a significant step towards Thailand's net-zero goal by 2065. The facility is set to begin operations in 2028, following a five-year investment of 10 billion baht annually in CCS technology.

Key Takeaways:

  • PTTEP's CCS project at the Arthit gas field will store 1 million tonnes of carbon dioxide per year, making it a significant step towards Thailand's net-zero goal by 2065.
  • The project's gas storage site, built at depths of 1,000-2,000 metres, is designed to store 1 million tonnes of carbon dioxide per year.
  • The facility is scheduled to start operations in 2028, following a five-year investment of 10 billion baht annually in CCS technology.
  • PTTEP's CCS project is part of the Nationally Determined Contribution (NDC) Action Plan on Mitigation from 2021 to 2030, aligning with Thailand's commitments under the Paris Agreement.
  • The project will serve as a national prototype for an underground carbon capture facility, paving the way for future CCS projects.
  • PTTEP is also interested in studying CCS projects in other areas of Thailand, including the Eastern Thailand CCS Hub initiative.
  • PTT Group aims to cut greenhouse gas emissions by 15% by 2030, with a current emission level of 41.4 million tonnes of carbon dioxide equivalent in 2024.

Statistics:

  • 1 million tonnes of carbon dioxide per year: the planned storage capacity of PTTEP's Arthit gas field CCS project.
  • 10 billion baht: annual investment in CCS technology over a five-year period.
  • 2028: scheduled start of operations for PTTEP's CCS project.
  • 2065: Thailand's target year for achieving net-zero emissions.
  • 2021-2030: the period covered by Thailand's Nationally Determined Contribution (NDC) Action Plan on Mitigation.
  • 41.4 million tonnes: CO2 equivalent emissions from PTT Group in 2024.
  • 15%: target reduction in greenhouse gas emissions by PTT Group by 2030.

Sources:

  • "PTTEP awards contract for Thailand's first carbon capture project." Asia Power Review
  • "PTT Exploration and Production Plc to be Thailand's first company to use carbon capture and storage technology." Bangkok Post
  • "PTT Group's Sustainability Strategy, Policy and Management report 2024." PTT Group
  • "Thailand's Nationally Determined Contribution (NDC) Action Plan on Mitigation 2021-2030." Ministry of Energy, Thailand
  • "Paris Agreement." United Nations Framework Convention on Climate Change

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