Thailand LNG Demand Declines Amid Economic Slowdown and Increased Term Contracts
Thailand's LNG imports fell by 11% to approximately 8.6 million tons from January to October 2025, driven by a slowdown in economic growth and reduced electricity consumption. The country has secured 3.4 million tons of LNG through long-term contracts, including a significant agreement with Eni, while spot tenders have decreased sharply. As economic forecasts predict further declines, regional LNG demand may face challenges due to turbine shortages and rising costs.

Thailand's LNG imports reached approximately 8.6 million tons from January to October 2025, an 11% decrease from the same period in 2024. Electricity consumption was recorded at 157,976 GWh for January-September 2025, down from 163,395 GWh in 2024, attributed to mild weather and higher inventories.
Economic growth is forecasted to slow to 2.2% in 2025 and 1.6% in 2026, impacting gas demand, previously projected to rise through 2030. Natural gas consumption was 4.496 billion m³/d in 2024, with increases in electricity generation and petrochemical use, but industrial consumption fell by 13%.
Thailand has secured at least 3.4 million tons of LNG through term contracts starting in 2025, including a 10-year agreement with Eni for up to 800,000 tons per year. Spot tenders have decreased significantly, from approximately 12-13 per quarter in 2024 to under seven in 2025. Regional LNG demand may be limited by turbine shortages and rising costs, while Indonesia anticipates a need for LNG cargoes in 2026.




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