Natural gas export tops US$2 bln in eight months

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An oil and natural gas exploration platform is seen in the sea to produce oil and natural gas.

Myanmar’s exports of natural gas in the past eight months (Oct-May) of the current financial year 2020-2021 exceeded US$2.025 billion, the Commerce Ministry’s data showed.
The figures indicated a sharp drop of over $900 million compared to a year-ago period.
Natural gas is included on the list of major export items of Myanmar. About six per cent of the country’s total export earnings come from the sale of natural gas.
There are 53 onshore blocks and 51 offshore blocks, totalling 104 blocks. A total of 25 onshore blocks and 31 offshore blocks are being operated under the foreign investment. Natural gas extraction is being made at the Yadanar, the Yedagun, the Shwe, and the Zawtika offshore blocks as well as onshore drilling blocks. Yearly extraction is elevated to cubic feet in 670.36 billion from 600 billion last year, according to the statement of the Ministry of Electricity and Energy.
The Shwe natural gas field, located offshore from Rakhine State, was discovered in 2014. Natural gas extracted from the field is exported to China.
The Yadana natural gas project is being carried out by the TOTAL Company, with its pipeline supplying natural gas to Thailand. Natural gas is also extracted in Yedagun, located offshore from Taninthayi Region and discovered in 1992. The Zawtika Project in the Gulf of Mottama mainly supplies natural gas to neighbouring Thailand.
Production at Yadana and Yedagun is declining, and those projects will be halted in the coming years.
Myanmar’s exports of natural gas stood at $3.5 billion in the 2019-2020 FY, $3.9 billion in the 2018-2019 FY, $3.5 billion in the 2017-2018 FY, $3.116 billion in the 2016-2017 FY, and $3.445 billion in the 2015-2016 FY, as per Commerce Ministry data.—KH/GNLM

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