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Natural gas export tops US$1.2 bln in seven months (Oct-Apr)

Myanmar’s exports of natural gas in the seven months (Oct-Apr) of the current financial year2020-2021 amounted to US$1.238 billion, the Commerce Ministry’s data showed. The figures indicated a sharp drop of $880 million compared to the year-ago period. During the corresponding period of last FY, Myanmar’s natural gas export generated an income of $2.124 billion. 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 Yadana, the Yedagun, the Shwe, and the Zaw Tika offshore blocks and onshore drilling blocks. According to the Ministry of Electricity and Energy, yearly extraction is elevated to cubic feet 670.36 billion from 600 billion last year. The Shwe natural gas field, located offshore from Rakhine State, was discovered in 2014. Natural gas extracted from the area 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 Moattama 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 stood at $3.5 billion in the 2019-2020 FY, $3.9 billion in the 2018-2019 FY, $3.5 billion in the 2017-2018FY, $3.116 billion in the 2016-2017 FY, and $3.445 billion in the 2015-2016 FY, as per Commerce Ministry data.

Source: The Global New Light of Myanmar

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