In a statement PTT Vice President International Marketing Wittawat Svasti-xuto said, “The major country that’s very interested in the project is China. They think that it will improve oil security [and] Sinopec is very interested.”
The project, which would see oil being pumped across the narrow isthmus from west to east, is expected to reduce the costs associated with shipping oil and gas to the Far East and decrease the time it takes to ship the resources there.
However, the project is expected to cost US$500 million. A feasibility study on the price tag of the pipeline is due for completion by year’s end.
No comment was available from Sinopec.
