GULF Partners with Eni to Sign LNG Sale and Purchase Agreement, aligning with Thailand’s National Gas Supply Strategy and Enhancing Energy Security

Gulf Development Public Company Limited (GULF), led by Mr. Sarath Ratanavadi (3rd from left), Chief Executive Officer, has officially signed an LNG Sale and Purchase Agreement with Eni S.p.A. ("ENI"). Eni is a listed company on the Italian Stock Exchange, with the Government of Italy as one of its major shareholders and has a market capitalization of approximately EUR 50 billion. Eni is recognized as one of the world’s leading energy companies and has extensive experience in fully integrated energy operations across multiple regions worldwide. Its businesses span the entire energy value chain, including crude oil and natural gas exploration and production, petroleum refining and distribution, liquefied natural gas trading, power generation, as well as the development of renewable energy and energy transition solutions.

The agreement facilitates the import of LNG to be supplied to power plants under the GULF group for a period of 10 years, with a supply volume of up to 0.8 million tonnes per annum (MTPA), and deliveries scheduled to commence in January 2027. Mr. Cristian Signoretto (4th from left), Director Global Gas and LNG Eni, also participated in the signing ceremony.

The GULF Group has previously received an LNG Shipper License granted by the Energy Regulatory Commission (“ERC”) for a total volume not exceeding 7.8 MTPA, to be used as fuel for the Group's power generation. GULF commenced its LNG import business in 2024.

This LNG Sale and Purchase Agreement aligns with Thailand’s national gas supply strategy by diversifying sources of natural gas, enhancing stability in both price and supply volume, and strengthening the nation’s long-term energy security, thereby supporting overall economic stability and national growth.