Bangchak Group CEO Joins “New Energy for Thailand” Forum

Highlights Biofuels’ Potential to Generate Economic Value Equivalent to Around 2% of GDP,Reduce Oil Imports and Strengthen Energy Security

Mr. Chaiwat Kovavisarach, Group Chief Executive Officer and President of Bangchak Corporation Public Company Limited, participated in “New Energy for Thailand: Energy Transition, Thailand’s Future at Stake,” organized by Matichon’s editorial team on August 26, 2026, at Pullman Bangkok King Power. He delivered a Special Talk titled “Green Innovation: Energy Alternatives to Power Thailand’s Economy,” sharing his perspectives on Thailand’s energy direction amid geopolitical uncertainty, growing competition for resources driven by AI, and the need to strengthen energy security and resiliency by balancing “Just-in-Time” efficiency with “Just-in-Case” preparedness.

Mr. Chaiwat noted that the transport sector accounts for 41% of Thailand’s final energy consumption and approximately 76% of the country’s primary oil consumption. These figures underscore the need for multiple pathways in the transport energy transition, including both electrification and low-carbon fuels, while taking into account existing infrastructure and energy systems.

Thailand can leverage its existing energy and transport infrastructure by increasing the use of drop-in biofuels, which can be used with existing engines and fuel systems without requiring major infrastructure modifications. This approach can help reduce dependence on imported crude oil, increase the use of domestic feedstocks and create economic value while supporting the transition toward lower-carbon energy.

According to the analysis presented, increasing the share of drop-in biofuels to 20% has the potential to generate economic value equivalent to approximately 2% of GDP, through around THB 153 billion in additional domestic spending and a reduction in oil imports of approximately THB 63 billion, while supporting job creation, income distribution and greater energy security.

He also referred to the royal initiatives of His Majesty King Bhumibol Adulyadej The Great on developing alternative energy from resources that Thailand can produce domestically, such as palm-based biodiesel. These initiatives reflect the principle of greater energy self-reliance, which remains challenging and highly relevant today.

Bangchak Group has built upon these royal initiatives through the continued development of biofuel businesses. Today, the Group produces biofuels for air, road and marine transport, ranging from HEFA-SPK sustainable aviation fuel (SAF), with a production capacity of 1 million liters per day, to HVO, or green diesel, for road transport and B24 for the marine sector. These products demonstrate how Thailand’s domestic resources and capabilities can be developed into higher-value energy products.

“Every drop of biofuel produced in Thailand does more than replace imported fossil fuels. It keeps more economic value within the country, expands the domestic value chain and provides a foundation for higher-value products such as SAF, HVO and advanced bio-based products,” Mr. Chaiwat said.