Three offshore gas fields see low demand from partner countries

THREE of Myanmar’s four offshore gas fields have attracted low demand for natural gas from partner countries, according to Electric Power and Energy Ministry. The Zawtika Project, the country’s largest offshore gas field has proven to be the exception.

The low demand has been linked to the fall in crude oil prices in the world market.

Myanmar is home to four natural gas exploration projects: the Yetagun Project, operated by Petronas Co, in the Andaman Sea; the Shwe Project, operated by Daewoo International Co, in the Bay of Bengal; the Yadana Project, operated by Total SA, a French energy group, in the Andaman Sea; and the Zawtika Project by the Thai oil company PTTEP, in the Gulf of Mottama.

In the past, Thailand has purchased over 400 million cubic feet of natural gas from the Yedagun Project per day. However, the neighbouring country has reduced its demand to 200 million cubic feet a day.

Likewise, demand from China has declined to just over 300 million cubic feet from 600 million cubic feet per day. The world’s most populous country normally buys natural gas produced from the Yadana Project.

Since late 2014, the price of natural gas has gradually fallen in local market.

Source: The Global New Light of Myanmar

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