SPE Thailand Monthly Technical Meeting - Jan 2026

"Geothermal in Thailand: a real potential of reliable and low-cost energy or a dream?"

Mr. Philip Askew
Avenir Energy

Abstract:
Thailand’s energy challenge as a hot, urbanised economy with large processing industries driving cooling, refrigeration, and low-temperature process heat accounting for 40–70% of peak electricity. This drives over capacity, grid congestion, costs, and emissions. Geothermal’s role in Thailand demonstrates that the opportunity is real, scalable, misunderstood.

Thailand is not volcanic and operates a 30 year old geothermal plant (300 kW Fang). National electricity planning (PDP) does not include geothermal. However, Thailand possesses strong shallow and moderate geothermal gradients (25–40 °C/km in central and eastern regions; up to 70 °C/km in the north). For Thailand the opportunity is deploying long-life thermal infrastructure through Organic Ranking Cycle (ORC). ground-source heat pumps (GSHP), aquifer thermal energy storage (ATES), absorption cooling, and direct-use heat. Screening indicates 3–6 GW of distributed cooling potential beneath Bangkok, the Eastern Economic Corridor, and major northern cities - delivering cooling, freezing, and low-temperature process heat as utility services, with electricity generation optional.

Turkey, the most relevant analogue, has deployed over 4,000 MWₜₕ of geothermal heat capacity, supplying municipalities, hospitals, universities, and district networks. Balçova operates at ~130 °C with doublet designs, delivering heating and cooling for decades with utility-style ownership, standardised designs, and anchored institutions. Similar outcomes are observed in Europe, China, and ME, where geothermal succeeds, not power.

Oil and gas subsurface and project-delivery skills are essential to scale geothermal — including drilling, well integrity, reservoir management, and cost control — but must be applied with caution as Geothermal is a utility business with thermal resource complexities.

With modular, mature technologies in 1–20 MW blocks, geothermal systems integrate into existing chilled-water, district cooling, and industrial heat networks, displacing 25–50% of electricity. Priority applications in Thailand include food processing and freezing (700–1,200 MW-cooling nationally), universities, hospitals and industrial parks.

Geothermal in Thailand is relevant and can change the game for the country but it not a power story — it is a thermal utility cooling and heat infrastructure solution

Biography:
Philip Askew is a senior executive and strategist with over 25 years of leadership experience across the global energy and industrial sectors. He has held senior roles including Founder & CEO, Managing Director, Venture Partner, and Engineer, working with Avenir Energy, Schlumberger, Carrier (United Technologies), ENOC Ventures, Boston Consulting Group and Shell.

Philip holds an MBA from the Darden School of Business in the USA and a First-Class Honours degree in Petroleum Engineering from UNSW.

His experience spans the full energy value chain—upstream, midstream, and downstream. He has worked with most Asian NOCs, majors and independents and has led P&Ls, capital programs, M&A, venture build-outs, and regulatory engagements, while leading high-performing, multicultural teams across Asia-Pacific and the Middle East.

More recently, Philip has focused on green energy investments and early-stage platforms, including geothermal energy development in Thailand and Southeast Asia, alongside broader energy transition opportunities.