The Ministry of Energy said on Sunday that Thailand has a two-month oil reserve and it will search out alternative sources to ensure energy security if the Iran war escalates to other countries in the Mideast.
Deputy permanent secretary Veerapat Kiatfuengfoo said that as of Feb 23 Thailand had an in-country reserve of 4.92 billion litres of crude and refined oil, and this could meet demand for 38 days.
In addition, 1.75 billion litres of Thailand-bound crude were already enroute from and outside the Strait of Hormuz, and another 1.12 billion litres from other sources were also being delivered to Thailand. This could meet demand in Thailand for an additional 23 days.
In total, Thai reserves could meet demand for 61 days, Mr Veerapat said.
Apart from crude oil, four ships were transporting liquefied natural gas to Thailand and two of them had already passed through the Strait of Hormuz. If the Iran war was prolonged, or escalated, the Ministry of Energy would take action to stabilise energy reserves and prevent an oil shortage, he said.
The Energy Ministry is also taking steps to ensure energy security, such as suspending petroleum exports, increasing domestic natural gas production, and operating coal and hydropower plants at full capacity. Thailand is also exploring alternative energy sources, including increasing pipeline natural gas procurement from the Gulf of Thailand, the JDA, and Myanmar
