Thai energy firm PTT opens first U.S. office
Thailand’s regional power producer PTT Group has opened its first energy trading office in the U.S. The office in Houston, Texas, is an important node in expanding PTT’s business worldwide.
“The U.S. plays an important role as one of the world’s largest producers of oil and gas,” said Disathat Panyarachun, PTT Senior Executive Vice President of the International Trading Business Unit.
“The establishment of the PTT International Trading USA (PTTT) office will allow PTT to complete the expansion of its trading business in major trading hubs all over the world, and strengthen Thailand’s energy security,” Disathat said.
He added that company had already completed its first deal for 6,000 tons of an unspecified petrochemical product valued at $5.7 million.
PTTT USA will raise PTT’s capability to monitor and handle the possible fluctuation of the market around the clock. It will also provide trading opportunities across more regions, which would give the company flexibility when demand and supply are out of balance in some corners of the world.
PTT International Trading has a string of offices covering Asia, Europe, Africa and the Middle East in addition to the U.S.
The Singapore office is responsible for East Asia, while its Shanghai representative office focuses solely on the China market. In London, the PTTT office covers trading activities in Europe and Africa. The Abu Dhabi office in the United Arab Emirates handles trading in the Middle East and is in charge of ICE Futures Abu Dhabi (IFAD) trading, of which PTT is one of the co-founders.
Photo courtesy of: https://www.ptt-trading.com/HoustonOffice