PTIT Lecture Series - Proposition to Revise the Thai Petroleum Act and support Energy security and the transition.
Avenir's GM/CEO and VP BD & Value attended the recent lecture hosted by PTIT that outlined the topic “Thailand IV - Is it time to revise the Thai Petroleum Act to revitalise energy security and support a realistic energy transition”. Dr. Pedro van Meurs, a world-leading advisor to governments all around the world on regulation, presented the challenging situation for Thailand, the opportunities and potential paths forward on the energy mix, regulation and decarbonisation.
Some of the key takeaways included:
- Thailand’s energy transition is challenged by investment and policy in new energies and is hence not getting the investment required when compared to its regional peers. The result will see the energy mix remaining heavy on Gas - so what to do?
- Thailands current fiscal regime can be improved to attract investment to deliver on this requirement with actions on royalty, income tax, deductions etc. And still have significant take for the government when compared to peers.
- Other governments are already acting.
- There are opportunities not just in CCUS but in offsets within an agricultural market like Thailand.
We deeply appreciated the excellent analysis and logic that led to Dr. Pedro’s conclusions. They could just be the recipe for success that Thailand needs to maintain security, affordability and progress on sustainability. The alternative may see Thailand missing its fair share of investment and facing increasing pressure on Energy prices and security.
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