Thailand state owned energy company PTT is accelerating its shift from a domestic utility to a global energy operator. The company is focusing on ammonia co firing in power plants, carbon capture and storage, and expanded liquefied natural gas trading as part of its long term transition strategy.
PTT is prioritizing ammonia over pure hydrogen for power generation. The company considers ammonia co firing a more practical and commercially viable option because it can be used in existing coal or gas plants with limited modification. Hydrogen technology remains costly and requires new infrastructure.
PTT is also developing carbon capture and storage projects. A project at the Arthit gas field aims to begin carbon storage by 2028, with potential capacity of up to one million tons of carbon dioxide per year. A larger Eastern Thailand CCS Hub in the Gulf of Thailand is under development in cooperation with the government. PTT has set a net zero target for 2050.
The company is expanding its LNG trading portfolio. PTT traded 3.3 million tons of LNG last year and secured long term contracts for 1.6 million tons. It aims to increase its portfolio to 10 million tons per year by 2030 and 15 million tons by 2035.
In 2025, PTT reported net profit of USD 2.5 billion, equivalent to THB 90 billion baht. The company is consolidating infrastructure assets and divesting non core businesses to support its international expansion.
