Myanmar to export 515 billion cubic feet of natural gas this fiscal year

The Yadana, Yetagon, Zawtika and Shwe gas projects are expected to collectively produce 515 billion cubic feet of natural gas for export and 160.6 billion cubic feet for local use in the 2016-2017 fiscal year, according to the second five-year National Development Plan (from 2016-2017 to 2020-2021).  

According to the plan’s projections, the Yadana project will produce 206.2 billion cubic feet; Yetagon, 73.4 billion cubic feet; Zawtika, 89.4 billion cubic feet; and Shwe, 146 billion cubic feet.

According to the Myanmar Oil and Gas Enterprise (MOGE), the total gas production during this fiscal year will reach 689.8 billion cubic feet, including 14.2 billion cubic feet from onshore blocks and 675.6 billion cubic feet from offshore blocks.

Under the second five-year National Development Plan, oil and gas laws and bylaws will be amended and drafted in order to satisfy energy demands for the country’s economic development.  

In addition, the government will invite foreign investors to carry out oil exploration and production in order to meet local energy demand. The government will serve as the operator for offshore oil exploration in the future.

The extension and maintenance of basic infrastructure for the energy sector calls for huge investment in technology and capital. The government will invite local and foreign investors to invest in Myanmar oil and gas on a joint-venture basis.