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I did not find much with searching, so intrepid scientist that I am, I embarked on my own variation. Using a Silver Palate recipe for cilantro pesto, I adapted it as follows:
2 c. packed Thai basil leaves
3 cloves garlic
juice of 1/2 lime
1 tsp. lime zest
1/2 tsp. salt
1/4 c. peanuts
Threw it all in my KA food processor, then added canola oil to form a paste and froze it in my standard ice cube trays. Tastes good! We'll see how it fares in some Thai curries this winter after a few months in the freezer. I was tempted to add some fish sauce but was unsure about it's freezing qualities since it is so high in salt. I figured I can always add that to the final dish.
Now, how do I keep lemon grass to use over the winter months?

I wasn't sure if you meant growing it or preserving it.

It's easy to grow indoors - if it's growing outside in the ground, dig up a clump and pot it up. I use regular potting mix with a handful or two of sand mixed in. It does need a sunny window. I try to keep the soil barely damp during the winter months. Mine doesn't like wet feet.

To preserve it, I just wrap a stalk in plastic wrap and put them in a freezer bag. Take out a stalk as needed.

I trim the stalks, vacuum seal and freeze.

You might check for mint pesto ideas to see what other combinations could be possible.

Carol

Thanks for the tips on the lemon grass!
I think I'll try both: freezing and potting some up for the winter...then I can hedge my bets if it doesn't winter over in the garden, which is very likely in our zone. We have a paucity of decent exotic produce in our town, so we've resorted to growing our own when possible.

I found a number of Thai basil pesto recipes. Most were in a similar vein to yours - some sort of thai basil, peanut, lemongrass, lime leaf, fish sauce combo.

But on one blog I found this version which integrates coconut milk, which I thought might be an interesting combination. No recipe, more a description:

I didnÂt pay much attention to the other recipes, and instead proceed to make up my own combination of the basil, two stalks of lemon grass, a couple of lime leaves, green onion, a bit of chile, a dash of salt and sugar, and, the special ingredient: coconut cream & oil, about a heaping tablespoon each. Theorizing that the pesto needed a good fat to aid the flavor, coconut oil seemed like the perfect choice it imparts just a hint of flavor and preserves well. However, I ended up wanting it to be a touch more coconutty, so I added some of the "heavy cream" off the top of a can of coconut milk. After whirling till smooth in the food processor, I let the pesto sit in the fridge for several hours before using. My bet is that it will be even better in a day or so, but already, it was a delicious, herby treat swirled in with some simple fine cut egg noodles.

I really like the lime leaf/lemongrass element. I know you're in an area where lime leaves would be impossible to find but they're available for order online and they freeze beautifully. Check out the blog link below for more context on the pesto.

Carol

Here is a link that might be useful: Thai Basil Pesto

If you really want an Asian taste, try (in food processor): large handful Thai basil leaves(flowers ok, too), 2-3 large cloves garlic, tsp sugar, tbls rice vinegar, 2-3 tbls soy sauce, small handful of peanuts, 2-3 scallions, 1-2 Thai chiles (to taste), 1 tsp Asian fish sauce. Grind it all up, then pour thru feed tube, with motor running, 4-6 tbls sesame oil. Use for stir-fried chicken or shrimp or even pork, or dilute with broth or cream and use as pasta sauce. You can freeze this, if you like.