Hin Kong Power, a joint venture owned 51 percent by Ratch and 49 percent by Gulf Energy, started the sale of electricity generated from its unit 2 to the Electricity Generating Authority of Thailand (EGAT) on January 1, 2025, according to Gulf Energy.
The JV has a 25-year power purchase agreement with EGAT.
This second unit, which is the last unit of the plant, has a contracted capacity of 700 MW and an installed capacity of 770 MW.
This follows the commercial operation start of its first unit with an installed capacity of 770 megawatts on March 31, 2024.
The project is a combined-cycle gas turbine power plant that uses natural gas as a source
of fuel, in which Hin Kong will be supplying and importing LNG to support electricity production.
Hin Kong Power received its first LNG shipment at PTT’s Map Ta Phut Terminal 2 (LMPT 2), also known as the Nong Fab LNG terminal, on February 28, 2024, and this shipment was used to commission the first unit.
With this shipment, Hin Kong Power became the first private company in Thailand to import an LNG cargo, according to the partners.
It previously won a license to import 1.4 mtpa of LNG to supply the power plant.
In 2023, a unit of Geneva-based energy and LNG trader Gunvor signed a term LNG supply deal with the JV to supply it with about 0.5 million tons per year of LNG on a DES basis.
Adnoc deal
Back in 2020, Gulf Energy Development secured licences from the government of Thailand to import LNG as part of its plans to reduce power prices in the country.
UAE’s Adnoc recently announced it has signed a deal with Gulf LNG, a unit of Gulf Energy Development, to supply the latter with LNG.
“The first cargo of LNG under this agreement, which was sourced from Adnoc Gas, marks the first direct LNG from Adnoc Trading to Thailand, strengthening our energy partnerships across Southeast Asia,” the company said.
However, Adnoc did not provide further details.
According to local media reports, Gulf LNG received its inaugural LNG cargo on January 6, 2025, at PTT’s Map Ta Phut Terminal 2 under the deal with Adnoc.
This shipment will be used to fuel Gulf Energy Development’s power plants.
Besides the existing facilities, Gulf Energy Development and PTT Tank Terminal, a unit of state-owned PTT, are also developing a new LNG import terminal in Map Ta Phut.
The terminal will have a capacity of 10.8 mtpa.
