PTT Global Chemical Public Company Limited announced that the Board of Directors of the Company, in its meeting no. 14/2024 on December 23rd, 2024, approved the Company to proceed with the Olefins Feedstock Security Project ("Project"). This Project's objective is to ensure long-term import of ethane feedstock from the United States and enhance the competitiveness of the Company's Olefins business.
The Company has collaborated with group companies under PTT Public Company Limited ("PTT") and partners to maximize benefits to the Company, while minimizing the Company's investments for this Project. The Company signed a service agreement for Very Large Ethane Carriers (VLECs) of 2 carriers with PTT for the period of 15 years, which is a collaboration among PTT group companies that utilizes PTT's expertise in sourcing, importing, exporting, and international transportation. PTT also has a vast network with global traders and shipowners.
To provide this service, PTT has entered into a chartered vessel agreement with MISC Berhad.
