Thailand to invest in Colombia's energy sector

BANGKOK, July 2 (TNA) - Colombia has invited Thailand to invest in its energy sector, as the Latin American nation possesses the world's 6th largest coal stocks. Regarding the invitation, Thai Energy Minister Pongsak Raktapongpaisal told reporters on Tuesday morning, after meeting with Colombian Ambassador to Thailand Andellfo Jose Garcia Gonzales, that he will have representatives of PTT Exploration and Production Public Company Limited (PTTEP) to look into the possibility of forming joint venture projects in Colombia. Pongsak acknowledged that joint ventures appear to be risk-free, while guaranteeing revenues and national energy security, amid Thailand's declining petroleum resources. PTTEP has implemented 44 petroleum exploration and production projects in 12 countries and its petroleum sales amounted to 275,923 barrels a day. According to the energy minister, the Colombian foreign minister is scheduled to visit Thailand and other countries later this month, when he is expected to discuss relations and economic partnership with the Thai Kingdom. The energy minister noted that Thailand can learn from Colombia about its sales of hydroelectricity to neighboring countries and apply lessons to electricity cooperation in the region. (TNA)