Bangchak Highlights Sustainable Growth Strategy Norway as a Key Energy Partner

Mrs. Gloyta, together with Mr. Johan Martin Seland, Director and Head of Sustainability, Telenor Asia, and Ms. Ava Hider, Eco Sales and Marketing Coordinator, Starboard, joined the panel discussion on the topic "Bridging Values: Norway-Thailand Partnerships for Ethical Growth." The panel focused on the shared values between Norway and Thailand in advancing ethical business practices, discussing how integrating sustainability into corporate strategy can drive long-term success. The session was moderated by Mr. Martin Venzky-Stalling, the Sustainable Development Committee Chair, Joint Foreign Chambers of Commerce (JFCCT).

Mrs. Gloyta discussed Bangchak's investment in petroleum exploration and production through OKEA ASA in Norway, which has become a key component of the company's growth strategy. This investment aligns with several factors that support Bangchak's vision for energy and sustainability. Norway offers high-quality petroleum assets with long-term production potential, enhancing energy security. Its stable policies and financial environment, including a clear regulatory framework, cost recovery mechanisms, and tax incentives, make it an attractive investment destination. Additionally, Norway plays a crucial role in Europe's energy security, ensuring market stability for investors while also leading in renewable energy and low-carbon technologies. These elements align with Bangchak's commitment to energy transition and sustainable resource management. She concluded that Bangchak's experience in Norway through its investment in OKEA has provided valuable lessons in sustainability and ESG that can be adapted to the Thai context. Norway serves as a model for strong sustainability policies, from stringent environmental regulations to the systematic integration of sustainability into corporate strategy. This approach demonstrates that economic growth and environmental responsibility can go hand in hand, reinforcing the importance of embedding sustainability into long-term business strategies.

2025 marks the 120th anniversary of diplomatic relations between Thailand and Norway. King Rama 5 visited Norway in 1905, making it the first time a Siamese monarch had traveled to Europe. Over the years, the two countries have collaborated on various areas, including trade, education, and sustainable development, among others.

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