Thailand’s PTT wins battle for Cove as Shell drops out

Thailand’s PTT wins battle for Cove as Shell drops out – Financial Times, July 16, 2012
…For PTT, buying Cove is central to its push to diversify Thailand’s sources of natural gas and to increase imports of liquefied natural gas. PTT’s chief executive, Pailin Chuchottaworn, told the Financial Times last month that the Cove bid was “part of a strategy,” and was “a very careful, calculated move.” He also emphasized that it came at a time when PTT – which is about two-thirds government owned – was seeking to redefine its role as a national oil company and be more proactive in mergers and acquisitions…

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