Bangkok (VNA) - The state-run Electricity Generating Authority ofThailand (Egat) is preparing to develop the country's first floating storageregasification unit (FSRU) worth 24.5 billion baht (807.8 million USD) tosupport its business plan to import liquefied natural gas (LNG) from 2020.

Local media reported thatEgat aims to be an LNG shipper for power generation as the Thai governmentplans to liberalise the business.

The National EnergyPolicy Council (NEPC) approved Egat’s plan to develop the investment project in2017.

The FSRU will be locatedin a 20-kilometre offshore area in the Gulf of Thailand. It will be 38km from agas pipeline to Egat's South Bangkok Power Plant in Samut Prakan.

The FSRU is an enormousbarge designed to process LNG, which is then fed to the onshore power plantthrough a gas pipeline. The regasification process will be done offshore.

NibongUngkurapinan, head of Egat's civil and coastal engineering department, said Egat decided on offshore instead of onshore because theformer requires less land, less time for development and has less impact onsurrounding communities.

An environmental impactassessment report is being considered by the Thai government. Egat expectsapproval by the first quarter of 2020.

The FSRU is expected tobegin operation in 2024 with a capacity of 5 million tonnes per year for LNG./.