Myanmar currently has 8.1 trillion cubic feet of natural gas and 490 million tons of coal, according to the New Energy Architecture: Myanmar report issued in June.
Myanmar currently has explorations at the Yadanar, Yetagun, Shwe and Zawtika natural gas projects. At the Yadanar offshore gas field, a 30-year project, Total E & P Co. from France has sold 600 million cubic feet of gas to Thailand daily since 1998. The company distributes 180 million cubic feet of gas for local use daily.
“Another one is the Yetagun offshore natural gas project explored by the Malaysian company Petronas. It has produced 430 million cubic feet of gas and 9,700 barrels of light oil daily since 2000. The crude oil has been sold overseas previously, but now they are refining at the Thanlyin refinery,” said Kyaw Kyaw Hlaing, chairperson of Smart Electric Co. Ltd.
Unlike oil, he added, gas cannot be sold on the spot but must be converted to liquefied natural gas and connected with pipelines to neighbouring countries.
“We can’t it sell directly. We have to conduct analysis first in order to confirm how big the gas field is, how many years it can produce and also the quality,” said Kyaw Kyaw Hlaing.
“We ask for advice from third party companies, depending on the geophysical results that come out of the survey. After looking at the results, the buyer and seller sign for the take-off pay agreement. The buyer has to produce the gas for 30 years, if they agreed to buy it for 30 years. So the explorers have income after ten years.”
The report says that Myanmar is currently exploring 77 oil fields and has offered to explore 66 additional offshore and onshore oil fields in the past two years.
source: Eleven Myanmar
http://elevenmyanmar.com/national/3954-myanmar-possesses-8-1-trillion-cubic-feet-of-gas-and-490-million-tons-of-coal-report-says
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