PetroChina edges toward Thai deals

PetroChina revealed it could invest up to US$1bn in liquefied natural gas (LNG) and oil projects in Thailand, though nothing firm has been agreed, an official said. Thailand has a US$5bn pipeline planned and has been trolling for investors in China, South Korea and Japan. The line would enable Mid-east oil to land on Thailand's West coast and be piped direct, rather than shipped around the Malaysian peninsula as now. Thai LNG activity has been picking up, both in pipeline and terminal projects. PetroChina's latest move in LNG came last month when it agreed to build a terminal in Guangxi Autonomous Region, revealing then that several other terminal projects were in the offing.