The Ministry of Electrical Power has opened a tender yesterday to buy natural gas from local and overseas investors to meet growing domestic energy demands, according to official sources.
The ministry plans to buy 150 or 200
million cubic feet of natural gas daily before March of 2014 to operate
power plants needed to produce electricity. Later the ministry will
increase the amount to 500 or 600 million cubic feet of natural gas
daily after 2014.
The chosen company will need to provide
gas using a Floating Storage and Regasification Unit (FSRU) from
Liquefied Natural Gas (LNG). The deadline for proposal and the prices is
July 31.
Myanmar is rich in oil and natural gas
deposits and has sold more than USD$19 billion worth of natural gas from
Yadana and Yetagon natural gas projects between 2007 and 2014,
according to the statistics released from the Ministry of Energy. The
Shwe oil and gas pipeline to China starting is also expected to start
operations in July.
However, Myanmar is also in need of
electricity and has constructed more natural gas power plants and
turbines to meet domestic demand. The Ministry of Electrical Power is
currently operating eight power plants which produce more than 330 Mega
Watts of electricity, only 20 percent of Myanmar's electricity needs.
Reports show the country needs 2,000 Mega Watts of electricity annually
to meet a growing domestic demand.
Ministry of Energy announced in the
middle of last year that the former government sold the gas for foreign
income but now they will use oil and natural gas to meet domestic energy
demand. The ministry also plans to produce value added products from
oil and natural gas if the production exceeds demand.
source: Eleven Myanmar
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