In a nation where more than two-thirds of electricity is generated by gas-fired plants,
Thailand's deepening reliance on expensive liquefied natural gas (LNG) imports is not
just an energy strategy—it's a growing burden on its people. As global LNG prices
spike and domestic gas output dwindles, questions are mounting over whether energy
policy mismanagement and elite profiteering have come at the expense of the average
Thai household.
At the center of this complex web lies Gulf Energy Development Public Company Ltd.,
a powerful conglomerate helmed by Thailand's richest man, Sarath Ratanavadi.
Together with the state-owned PTT Group, Gulf has secured long-term rights to import,
store, and distribute LNG under lucrative government contracts. And while energy
prices for consumers rise, so too do the profits of these well-connected corporate giants.
