Jul 21, 2014

Gas exports reach US$10 bn in 3 years

Myanmar’s natural gas exports have amounted to over $10 billion in three years under the civilian government, according to the Ministry of Commerce.

The gas revenues comprise $3.5 billion for fiscal year 2011-12, $3.66 billion for 2012-13 and $3.3 for 2013-14.

In the same period, exports of timber and wood products amounted to $2 billion. And gems earned $2 billion in export earnings. The country received a total of $14 billion in exporting natural resources.

Recently the government organised the 51st Myanmar Gems Exhibition which saw the record earnings of about $800 million.

For the past eight years, natural gas revenues totalled $22 billion.

The country has four natural gas fields, namely Yetagon, Yadana, Zawtika and Shwe.

Private operators have been awarded production contracts to sell 85 per cent of output from three fields while the state-owned Myanmar Oil and Gas Enterprise has the control over the remaining 15 per cent.

Only at Yetagon field, the government has retained the right over 20.45 per cent of production output.

Source: Eleven Weekly Media

 
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