Thailand is a net energy importing nation. In 2012, our energy imports came to THB1.45 trillion, with 77.4 percent of that being crude oil, 8.6 percent as other petroleum products (including refined oil products and LPG), plus 8.0 percent as natural gas.
Thailand's energy exports, however, were valued at only THB400 billion, 85.9 percent of which were petroleum products (largely refined oil products), plus 12.8 percent as crude oil; thus translating into an energy deficit of about THB1 trillion.
Looking ahead, KResearch is of the view that Thailand will face a daunting challenge in maintaining energy security as demand for imported energy – spurred by economic growth – rises consistently amid scarce energy resources at home. This issue could undermine our economic stability via a current account deficit, especially if the Baht continues to depreciate.
Given this, our future energy management will have to take into account many factors, including exploration for new domestic energy assets and the need to increase energy reserves. At the same time, all sectors should continue to promote energy conservation, along with support for the use of alternative energy resources that can be produced from domestically-sourced raw materials.
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