Bangkok: PTT Public Company Limited has highlighted carbon capture and storage (CCS) as a pivotal technology for reducing emissions from Thailand’s glass-bottomed ship industry and has called on the government to amend legislation to facilitate exploration and investment in CCS projects. The company estimates that over 500 CCS initiatives will be launched globally in the next five years.
According to Thai News Agency, Dr. Kongkrapan Intarajang, CEO and President of PTT, emphasized the company’s strategic role at the Business Forum Decode 2025 The Mid-Year Signal, which focused on interpreting global economic trends and reshaping the future of the Thai economy. He stated that achieving a balance in energy security, sustainability, and affordability is essential, even as the United States reconsiders its net-zero commitments. Global energy companies remain committed to transitioning towards net zero, albeit at varying paces.
Dr. Intarajang projected that while the shift to clean energy will gain momentum over the next 20-30 years, it will still comprise less than 20% of the global energy mix due to limitations in renewable energy sources like solar, wind, and water. He noted that as renewable energy usage rises, coal consumption decreases, while oil consumption is expected to remain relatively stable. By 2050, natural gas, regarded as the cleanest fossil fuel, is expected to maintain or slightly increase its share in the global energy landscape, reflecting the consensus among Southeast Asian national energy companies.
Thailand, while producing its own natural gas, must import liquefied natural gas (LNG) to ensure energy security, as over 80% of global conflicts have been driven by control over gas and oil resources. Reducing global warming remains an undeniable challenge, with CCS technology playing a critical role. Widely implemented in the United States and gaining traction in Europe, CCS is anticipated to see significant growth globally, with over 500 projects expected in the next five years, enabling cost-effective energy use while mitigating carbon emissions.
Dr. Intarajang also mentioned that hydrogen, a promising clean energy source, is being developed worldwide, with countries exploring both blue and green hydrogen variants despite their high costs. In Thailand, the Ministry of Energy’s renewable energy policies face challenges due to natural resource limitations and high costs, affecting electricity pricing and necessitating subsidies.
Thailand’s abundant, high-quality natural gas reserves offer a cost advantage, but LNG imports are subject to price volatility. Therefore, promoting domestic petroleum exploration is crucial, despite the higher costs associated with smaller and deeper gas wells. The simultaneous reduction of carbon and greenhouse gases through hydrogen and CCS technology remains a priority for PTT and the Thai government.
CCS can store substantial quantities of carbon, up to 10 million tons annually, but its development requires time and governmental approvals for exploration and investment. With the Gulf of Thailand identified as a potential carbon storage site, PTT is already investing in CCS technology abroad and exploring domestic storage options in old gas wells and undersea rocks. Additionally, PTT is researching hydrogen applications for large-scale industrial use.