Myanmar signs gas deal with China
Sponsored LinksMyanmar’s government and four foreign companies have signed an agreement to sell natural gas from offshore fields to neighboring China, state media said Monday.
The agreement, signed last Wednesday, was the first for sales of gas from Myanmar’s northwestern offshore fields.
The New Light of Myanmar newspaper said South Korea’s Daewoo International and Korea Gas Corporation and two Indian companies — ONGC Videsh Ltd. and GAIL Ltd. — were part of a consortium with the Myanmar government that finalized the deal with the China National United Oil Corporation.
The consortium is led by Daewoo, with a stake of 51 percent.
The report did not mention the value of the deal, when pipeline construction would begin or when the gas flow will start.
Myanmar has exported natural gas from two major offshore fields in the Gulf of Martaban to Thailand since 1998.
The oil and gas sector dominates Myanmar’s foreign investment.
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