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Home  >>  Daily News  >>  Myanmar News  >>  Energy  >>  Thailand, Myanmar to sign gas deal in Q4

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5 August 2009

Thailand, Myanmar to sign gas deal in Q4

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Thailand and Myanmar will start commercial gas production from offshore Block M9 natural gas project on the Gulf of Martaban, south of Yangon in late 2013, reported Thai news agency TNA.

Wannarat Channukul, Thailand's energy minister said, after the Asean Energy Ministers meeting last month in Mandalay, Myanmar, the two countries would sign an agreement on selling gas in the fourth quarter of this year.

The operation by a subsidiary of the PTT Exploration and Production Plc. (PTTEP) will produce gas at a volume of about 300 million cubic feet per day (mcfpd) from the M9 gas field.

Of the total daily production, 240 mcf, or 80 percent, will be delivered for use in Thailand and the remaining 60 mcf, 20 percent, will be used in Myanmar.

Petroleum reserves are estimated at about 1.5 trillion mcfpd and investment funds of at least $1 billion are expected. The negotiation was earlier delayed due to the economic crisis and the decreasing demand for electricity and gas, said the energy minister.


 

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