Thailand participates in WGC 2012

BANGKOK, June 6 (TNA) - Thailand is taking part in the World Gas Conference (WGC) 2012, being held in Kuala Lumpur, Malaysia's capital, from June 4-8, at which participants have analyzed that natural gas will become the world's principal type of energy, in lieu of oil, in the foreseeable future. Pairin Chuchotithaworn, Chief Executive Officer (CEO) and President of PTT Public Company Limited (PTT), Thailand's largest petroleum firm, joined other participants in assessing at the WGC 2012 that natural gas is likely to become the world's most important fossil-based type of energy in the future, given its least release of carbon dioxide and lowest impact on the environment, compared with oil and coal. Pairin pointed out that natural gas prices have also been more stable than oil and coal, proposing that subsidies on natural gas costs be waived in all nations to allow the natural gas prices to move freely in accordance with the global market mechanism, with other measures implemented by the governments instead to create and maintain people's income. According to an international assessment, natural gas should become the world's principal fossil-based type of energy by 2050, replacing oil, as world consumption of natural gas now accounts for one-fifth of total global energy consumption, a steady increase by 40 per cent on average so far. In Thailand, natural gas is mostly used at power plants, accounting for some 59 per cent of the country's total consumption of gas. (TNA)