You can read daily news of Global New Light of Myanmar using mobile applications. Download now!

August 13, 2020

Natural gas exports exceed $2.4 bln in Oct-May

An offshore natural gas drilling site of Shwe Natural Gas Project in the west of Myanmar. PHOTO: MNA
An offshore natural gas drilling site of Shwe Natural Gas Project in the west of Myanmar. PHOTO: MNA

Myanmar’s exports of natural gas over the past eight months of the current financial year amounted to US$2.4 billion, the Commerce Ministry’s data showed. The figures reflect a decrease of over $400 million compared with the corresponding period of 2018-2019 fiscal, according to the Commerce Ministry. The drop in the value of exports is linked to the collapse of the global oil and natural gas prices, according to an expert.
Natural gas is included in the list of major export items of Myanmar. Over 10 per cent of the country’s total export earnings come from the sale of natural gas. There are 53 onshore blocks and 51 offshore blocks, totalling 104 blocks. A total of 25 onshore blocks and 31 offshore blocks are operating under foreign investment. Natural gas extraction is being made at the Yadanar, the Yedagun, the Shwe, and the Zaw Tika offshore blocks as well as onshore drilling blocks. Yearly extraction is elevated to cubic feet in 670.36 billion from 600 billion this year, according to the fourth-year performance statement of the Ministry of Electricity and Energy.
The Shwe natural gas field, located offshore from Rakhine State, was discovered in 2014. Natural gas extracted from the field is exported to China.
The Yadana natural gas project is being carried out by the TOTAL Company, with its pipeline supplying natural gas to Thailand. Natural gas is also extracted in Yedagun, located offshore from Taninthayi and discovered in 1992. The Zawtika Project in the Gulf of Mottama mainly supplies natural gas to neighbouring Thailand. Production at Yadana and Yedagun is declining, and those projects will be halted in the coming years. Myanmar’s exports of natural gas in the previous financial year totalled $3.88 billion, as per Commerce Ministry data.—Ko Htet (Translated by Ei Myat Mon)


Related posts