Myanmar gas exports close to $4b

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myanmar-natural-gasNatural gas exports from Myanmar are likely to reach nearly $4 billion for the fiscal year 2012/2013 ending in March, a commerce minister announced, surpassing last year’s record of $3.5 billion.

Two major offshore fields have contributed to the boom in natural gas, by far the country’s largest export in terms of revenue, the majority of which are destined for Thailand.

The Yatanar field exports 640 million cubic feet daily, while the Yetagun exports 430 million cubic feet. Both fields are located in the Andaman Sea, with the latter being the largest reserve at an estimated 3.2 trillion cubic feet.

The leading source of government revenues, offshore oil and gas blocks have been majorly exploited since 2001, when Petronas Carigali Myanmar (Hong Kong) Ltd. began its operation, exporting to neighbouring Thailand.

Natural gas exports are forecast to continue surging after the Shwe gas project begins exporting in May, followed by the Zawtika project in December.

The development of the Shwe field, located in the until-recently hotly contested Bay of Bengal, poses serious security concerns. The China-bound pipeline for the export project has to run through Kachin State, home to one of Southeast Asia’s longest and bloodiest conflicts.

That the proposed pipeline is over-ground presents an additional risk factor for safely completing sales to China.

 

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Reading Time: 1 minute

Natural gas exports from Myanmar are likely to reach nearly $4 billion for the fiscal year 2012/2013 ending in March, a commerce minister announced, surpassing last year’s record of $3.5 billion.

Reading Time: 1 minute

myanmar-natural-gasNatural gas exports from Myanmar are likely to reach nearly $4 billion for the fiscal year 2012/2013 ending in March, a commerce minister announced, surpassing last year’s record of $3.5 billion.

Two major offshore fields have contributed to the boom in natural gas, by far the country’s largest export in terms of revenue, the majority of which are destined for Thailand.

The Yatanar field exports 640 million cubic feet daily, while the Yetagun exports 430 million cubic feet. Both fields are located in the Andaman Sea, with the latter being the largest reserve at an estimated 3.2 trillion cubic feet.

The leading source of government revenues, offshore oil and gas blocks have been majorly exploited since 2001, when Petronas Carigali Myanmar (Hong Kong) Ltd. began its operation, exporting to neighbouring Thailand.

Natural gas exports are forecast to continue surging after the Shwe gas project begins exporting in May, followed by the Zawtika project in December.

The development of the Shwe field, located in the until-recently hotly contested Bay of Bengal, poses serious security concerns. The China-bound pipeline for the export project has to run through Kachin State, home to one of Southeast Asia’s longest and bloodiest conflicts.

That the proposed pipeline is over-ground presents an additional risk factor for safely completing sales to China.

 

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