Natural gas exports top $2.97 bln in Oct-July

Myanmar’s exports of natural gas over the past ten months of the current financial year 2019-2020 amounted to US$2.97 billion, the Commerce Ministry’s data showed. The figures reflect a decrease of $264 million compared with the corresponding period of the 2018-2019FY when the gas export value was registered at $3.235 billion, the statistics released by the Central Statistical Organization under the Ministry of Planning, Finance and Industry indicated. 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. About 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 Ye Dagun, 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 Yedagon, 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 Yedagon 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.

Source: The Global New Light of Myanmar

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