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Siemens eyeing more deals with PTT |
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Germany-based Siemens AG is stepping up its partnership with Thailand's top energy company PTT Plc as part of its global strategy to double Siemens' oil-and-gas business in the next three to four years. Kairen Lake, head of Siemens' oil-and-gas business for Southeast Asia-Pacific, said the company was keen to supply equipment and solutions to the state oil company so that it could operate more efficiently with less environmental impact. Siemens will bid for a contract worth about 5 million for a gas compressor to be installed at PTT's liquefied natural gas (LNG) receiving terminal in Map Ta Phut. PTT plans to invest over 30 billion baht in the facility scheduled to start operating in 2011 for imports of LNG from the Middle East. It recently awarded a contract to a South Korean engineering firm to build some of the facilities. The German engineering giant also targets to join the race for PTT's projects in midstream and downstream oil-and-gas pipeline businesses both in Thailand and abroad, said Mr Lake, who is based in Kuala Lumpur. ''We are looking forward to working with major oil companies to build up our presence in the increasingly important oil-and-gas businesses,'' he said. Siemens, he said, aimed to double its oil-and-gas revenue from the current 3 billion plus in the next couple years, outpacing the expected average annual growth rate of 5% of the world's oil-and-gas industry. Currently, Asia Pacific contributes about 10% to Siemens' oil-and-gas business revenue worldwide, with the majority coming from Europe and North America, he added. ''Siemens looks to grow our businesses in Thailand and oil and gas is a part of that growth,'' he said, adding Siemens operates in three key areas - energy, industrial solutions and health care. Mr Lake said Siemens would participate in Gastech 2008, the industry's largest-ever show set to be held in Bangkok from March 10-13. ''The event will give us a bigger exposure to the Thai market,'' he said. ''We want to grow our business significantly in Asia Pacific, thus we need to be visible in the marketplace. ''Our key customers - national and international companies such as Chevron and Exxon-Mobil - would be represented [in the event] as well, we want to show we are a core partner for them.''
Siemens expanded its
oil-and-gas business aggressively over the past six years through a
number of strategic acquisitions. |
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Bangkok Post, 28.02.2008 |
