GE Energy To Provide Eight Gas Turbines Under New Supply Agreement In Thailand
Posted: 11 April 2005
GE Energy's oil and gas business has signed a strategic agreement with PTT Utility Company Limited (PTTUT) of Thailand for the supply of equipment and services.
PTTUT is an affiliate of PTT, established to provide utilities to PTT's Petrochemical Group. PTT is Thailand 's fully integrated energy company and has the largest market capitalization of all energy companies listed on the stock exchange in Thailand .
Under the new agreement, PTTUT and other affiliated companies of the PTT Group will purchase eight GE gas turbine-generator packages within the next four years, for a total value of more than $80 million. The first gas turbine package awarded under the agreement was purchased by National Petrochemical (NPC), an affiliated petrochemical company of PTT.
The agreement was signed by Somchai Sintharapantorn, Managing Director of PTTUT, and Piero Salvadori, Chairman of GE Energy's oil and gas group.
Mr. Sintharapantorn commented, "The frame agreement enhances the cooperation between GE Energy's oil and gas business and PTT. The teamwork will optimize all of the activities linked to the supply of rotating equipment and services."Sergio Sartoni, Asia Pacific Region Manager for GE Energy's oil and gas group,
highlighted the benefits of the agreement. "It will facilitate the development of a strong relationship between our companies, based on mutual trust and transparency. PTTUT and GE Energy aim to profitably share their knowledge and experience, and will employ standard processes for the purchase and supply of equipment and services."
PTT is the largest energy company in Thailand and engages in all energy sectors including upstream exploration and production, gas processing plants, oil refineries, oil and gas transmission pipelines, oil and gas supply, trading and marketing and the petrochemical business. In 2004, PTT revenue was $16.4 billion.
GE Energy's oil and gas business is based in Florence , Italy , the home of Nuovo Pignone, a long-time leader in gas compression and turbo generation products. Since the acquisition of Nuovo Pignone in 1994, GE Energy has continued to expand its oil and gas business by acquiring or developing partnerships with other technology and experience leaders in the industry.
Posted by Editor Pipeline Magazine
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