ADB: Myanmar Needs To Harness Energy Resources To Power Growth

MANILA, Nov 27 (Bernama) -- Myanmar needs to develop its vast energy resources to promote growth and reduce high poverty incidence, the Asian Development Bank said.

The Manila-based lender on Tuesday released its initial assessment of Myanmar's energy sector which showed the country has abundant energy resources that could be tapped for power generation and oil and gas exploration.

The most notable of these resources are hydropower and natural gas, Xinhua news agency reported.

The hydropower potential of the country's rivers is estimated to be more than 100,000 megawatts.

The country also has a proven gas reserves amounting to 11.8 trillion cubic feet and is supplying natural gas to Thailand.

Despite having these resources, Myanmar's current per capita electricity consumption is among the lowest in Asia.

Biomass accounts for nearly 70 percent of its domestic energy source, and electrification rates range from 67 percent in Yangon to as little as 16 percent in rural areas.

The ADB said energy resources were not harnessed owing to several problems that plagued Myanmar for decades.

These include limited capital, lack of qualified personnel, poor legal and regulatory frameworks, and lack of coordination and planning among seven energy-related ministries.

"Myanmar's energy sector has suffered from decades of under-investment and only one in four people currently have electricity access," said Anthony Jude, director of the Energy Division in ADB's Southeast Asia Department.

With Myanmar opening up, Jude said it is possible to use domestic energy resources to power the country's development by enforcing environmental and social safeguards.

source: BERNAMA
http://www.bernama.com/bernama/v6/newsworld.php?id=711851