PTT EGAT Join Forces on Increasing National Energy Security

Energy Press Releases Friday February 2, 2018 17:15
Bangkok--2 Feb--PTT

Today (2 February 2561), Dr. Siri Jirapongphan, Energy Minister, presided over the signing ceremony of memorandums of understanding (MOU) on Joint Study in Energy Businessesfor Potential Cooperation between Electricity Generating Authority of Thailand (EGAT) and PTT Public Company Limited (PTT). The MOU was signed by Mr. Kornrasit Pakchotanon, Governor of Electricity Generating Authority of Thailand and Mr. Tevin Vongvanich, President and Chief Executive Officer of PTT Public Company Limited.

Dr. Siri Jirapongphan, Energy Minister, revealed that this MOU is an important cooperation between the two state enterprises under Ministry of Energy, aiming to ensure national energy security. Ultimately, both organizations still maintain their commitment that our country have enough affordable energy namely fossil fuel and electricity. Also, it can be seen that there was no energy crisis which affects the security of the nation for many years. This cooperation is the beginning of "Team Thailand for Energy Business" with great mission to reinforce energy security along with develop energy business and innovation, enhancing the economy and quality of life in Thailand. Ministry of Energy hopes that EGAT and PTT will become the leading energy business developer in foreign countries, bringing back advancement into ASEAN.

Mr. Kornrasit Pakchotanon, Governor of Electricity Generating Authority of Thailand, also added, "The current trend of disruptive technology significantly plays an important role in transforming the global economy. Therefore, PTT and EGAT, as Thailand's leading state enterprises in energy industry, have to make quick and continual adjustments in order to cope with the rapid growth of the disruptive technology and to be in time for the development of the disruptive technology in global directions. This cooperation in the energy sector between PTT and EGAT is a disclosure of their intentions to reinforce their potentials, develop the disruptive innovations in energy sector and energy-related business, acquire knowledge exchange, and jointly strive for new business opportunities. I believe that the capabilities and experiences of the two energy organizations will lead to a wide expansion of benefits to Thailand and its people in enhancing the security in energy industry and strengthen the nation's economy for Thailand's sustainable future."

Mr. Tevin Vongvanich, President and Chief Executive Officer of PTT Public Company Limited, stated that PTT is willing to support government policy in gearing the development of Thai economic growth towards sustainability. Thus, we are pleased to sign this MOU with EGAT and look forward to closer collaboration in studying and exploring the opportunities in energy businesses. The integration of the two organizations' knowledge and expertise will enable new energy business and innovation, increasing the nation's competitiveness to reach the international level. In accordance with Thailand 4.0 policy which focuses on value-based economy, this cooperation aligns with the policies in ensuring energy security and creating value-added in innovated energy industry. Moreover, the MOU will strengthen the partnership between the two organizations and increase the confidence of government, public, and industrial sectors in national energy security for the ultimate well-being of the nation, driving PTT's policy to be the "Pride and Treasure of Thailand" all along.

The National Energy Policy (2018-2022) emphasizes on ensuring Thai energy security and increasing the nation's competitiveness in the international arena, while the cooperation between EGAT and PTT will be effective for a period of 2 years. Both organizations will join forces on integrating knowledge, developing specialised talents, and establishing pilot project which will empower the energy cooperation in the near future.


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