Aug 27, 2015

Gas Brings $1 Billion to State Coffers

Over $1 billion was earned from exporting gas from four gas fields as of the first week of July in 2015-16 fiscal year, according to the Ministry of Commerce.

“Most gas export goes to Thailand which is a regular buyer of our gas. We have started exporting to China some time ago,” said U Win Myint, a director at the ministry.

Myanmar has allowed concessions in four offshore gas fields; Yadanar, Yetagun, Zawtika and Shwe gas fields.

Yadanar gas field in the Andaman Sea produces 910 million cubic feet of natural gas per day, of which 711 million cubic feet is exported to Thailand, while 330 million cubic feet of gas produced from Yetagun gas field off the Tanintharyi coast also goes to Thailand.

Zawtika gas field in the Martaban Gulf produces 353 million cubic feet of gas, of which 279 million cubic feet go to Thailand, while 379 out of the total 399 million cubic feet produced in Shwe gas field off the Rakhine shore are exported to China.

Natural gas is the largest industrial product export of Myanmar, which earned $5 billion in 2014-15 fiscal year, according to the data from the Ministry of Commerce.

Source: Myanmar Business Today