November 21, 2017

Natural gas export earned US$20 million more than last FY

Despite decreasing gas production of Yetagun, Zawtika and Yadana projects, export earnings from natural gas over past seven months in current fiscal year exceeded over US$1.64 billion, which is up by about $20 million against similar period of last FY.
During the same time of last FY, natural gas export revenue estimated $1.61 billion, according to the Ministry of Commerce.
Gas production from Yetagun, Zawtiga and Yadana gas projects with their pipelines to Thailand are declining, according to an announcement of the Ministry of Electricity and Power.
Natural gas was started to be extracted from Yedagon gas field in Taninthayi offshore in 2000, with daily production of about 330 million cubic feet only for export. However, production has now begun to decline down to 250 million cubic feet.
Additionally, the gas from Zawtika Project located in the Gulf of Moattama started to be exported to the neighbouring country Thailand in 2014, with its production of 279 million cubic feet for use of Thailand and 64 million cubic feet for local consumption. According to announcement released in June of this year by the Ministry of Electricity and Power, it produces 250 million cubic feet for export and 80 million cubic feet for local consumption.
According to the statistics in 2014, the daily production form Yadana natural gas field totaled 910 million cubic meters, 711million cubic meters of which were exported to Thailand and the remaining were for domestic consumption. Nevertheless, the gas field matures and production declines and so, about 800million cubic feet are currently produced a day.
At present, about 450 million cubic feet are daily exported to China from Shwe natural gas field discovered in Rakhine offshore in 2014 and it production of about 100 million cubic feet is for local consumption.
In export sector, natural gas and agricultural products individually made up 25 per cent while CMP garment accounted for 16 per cent, minerals for eight per cent, fisheries for five per cent and forest, animal products and other products for 21 per cent.

 

Mon Mon

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