GULF Announces the Acquisition of LNG-Shipping License for “Hin Kong Power” Production

Following the report of “Kaohoon Online” last night over the acquisition of LNG’s license by Gulf Energy Development Public Company Limited (GULF), the company has made an official announcement of the acquisition this morning as follows;

 

Regarding Hin Kong Power Holding Company Limited (HKH)’s request for LNG shipper license from the Energy Regulatory Commission (ERC), Gulf Energy Development Public Company Limited (GULF) would like to provide notification that ERC has approved HKH to acquire the aforementioned license from ERC in the amount of 1.4 million tons per year, to be used as a fuel for electricity production for Hin Kong Power Project with capacity of 1,400 megawatts, located in Hin Kong subdistrict, Mueang district, Ratchaburi province and is expected to commence commercial operation in 2024 and 2025.

HKH is an associate which GULF holds 49% of the shares and RATCH Group Public Company Limited (RATCH) holds 51% of the shares. HKH’s LNG shipper license would result in a lower LNG cost for the Hin Kong Power Project, and subsequently reduce the country’s electricity price.