Thailand heatwave drives record power demand

Thailand is in the grip of a record-breaking heatwave, driving the nation’s power demand to enormous levels. The Thai Meteorological Department reported that over three dozen districts across the country’s 77 provinces experienced their highest ever temperatures for April, the traditionally hottest month, with some records breaking those set in 1958.

This extreme heat has caused a surge in electricity consumption, with a record peak of 36,699 megawatts on April 29, marking the third record-breaking demand in a week.

To meet these rising demands, PTT, Thailand’s state-owned energy company, has secured an emergency shipment of liquefied natural gas (LNG), with possible additional purchases being considered. LNG is mainly used for power generation in this nation.

Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play. 

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