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Unprecedented natural disaster has prompted the Energy Ministry to consider increasing the energy security.
Energy Minister Pichai Naripthaphan said the Ministry was planning to amend the law in order to boost the national oil reserve. Under the law, the national short-term crude oil reserve accounts for five percent of crude oil in the country. Such a percentage can support the country’s basic operation for 18 days. The Energy Ministry plans to increase the short-term reserve to last 29 days and the long-term reserve to last 90 days in accordance with energy policies of developed countries.
The Energy Business Department is considering whether the construction of the oil reserve facility should be invested by the public sector or the private sector. The Ministry is also planning to promote pipeline expansion, which it deems to help lower land transport accidents, and bridge the oil price gap between the capital and other provinces.