Gazprom Neft and PTT Public Company Limited (“PTT”), Thailand’s largest oil and gas company, have signed a Memorandum of Understanding (MoU), promoting mutually beneficial cooperation between the two companies. The document was signed by Alexander Dyukov, CEO of Gazprom Neft, and Tevin Vongvanich, President of PTT.
The MoU covers potential collaboration in the exploration and production of hydrocarbons in Russia and other countries, the development and production of cat-cracking and hydrotreatment catalysts, and aviation fuel supply. Additionally, the companies will consider options for scientific collaboration in industrial safety.
Alexander Dyukov, CEO of Gazprom Neft, commented: “Our companies have been collaborating since 2012, when Gazpromneft-Aero — the operator of the Gazprom Neft aviation refuelling business — signed an agreement with PTT to supply aviation fuel to Thailand’s airports. This MoU confirms the commitment of both parties to further develop and intensify joint activities, and envisages the implementation of a wide range of mutually profitable projects. Additionally, for Gazprom Neft, the partnership with PTT presents an excellent opportunity to further expand our presence in the promising market of South—East Asia.”
PTT is the largest vertically integrated oil and gas company in Thailand, engaged in the exploration, production, transportation, refining and marketing of oil and gas, as well as in energy and oil refining, the sale of oil products (via its own network of gas terminals and aviation refuelling facilities), and petrochemicals production. The controlling interest in PTT is held by the Government of Thailand, with the company overseen by the country’s Ministry of Energy.