In Thai, the term phaya nak, which literally means “lord of Naga,” is derived from the word which means high nobility. Naga is regarded as the patron of water in Thai culture and are believed to inhabit caves or water bodies.
According to a legend, the Mekong River in Laos and Thailand was created by two Naga kings as they slithered through the region. This river and its nearby Nan River are also known to produce mysterious fireballs. For many years now, it has been believed that the nagas in the region create these unusual fireballs. This phenomenon usually occurs every year along the Mekong River, which is near the border between the two countries. Usually, people gather at night along the river to catch a glimpse of the mysterious fireballs.
The mythical serpent-like creatures known as the phaya nak are believed to inhabit the Mekong River and its surroundings. Some have suggested that these sightings are caused by the elongated fish with red crests, or an unusual type of marine creature known as an oarfish.
Read more at https://mythlok.com/phaya-nak/
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