Gulf Development Signs 15-Year LNG Supply Deal with Engie

Gulf Development has signed a 15-year LNG supply agreement with Engie, securing long-term fuel volumes for multiple Thai power plants beginning in 2028.

(P&GJ) — Thailand-based Gulf Development Public Company Limited has executed a long-term liquefied natural gas supply agreement with Engie, securing LNG volumes for its power generation portfolio beginning in 2028.

Under the agreement, a wholly owned subsidiary of Gulf Development will import up to 0.8 million metric tons per year of LNG over a 15-year term, with deliveries scheduled to start January 1, 2028, according to a filing submitted to the Stock Exchange of Thailand on Jan. 13.

The supply will support fuel needs across multiple Gulf power projects, including Gulf SRC (GSRC), Gulf PD (GPD), Hin Kong Power Project (HKP), and 19 small power producer (SPP) facilities operated by the group. Gulf received an LNG shipper license from Thailand’s Energy Regulatory Commission allowing imports of up to 7.8 million metric tons per year, with LNG imports already underway since 2024.

Engie operates more than 100 GW of installed power generation capacity worldwide and maintains gas transmission, distribution, and energy infrastructure assets across more than 30 countries, according to the filing.

Gulf said the LNG procurement aligns with Thailand’s national gas supply strategy by diversifying sources of supply, improving price and volume stability, and strengthening long-term energy security for the country’s power sector.