Thai-Myanmar gas project to start commercial production in 2013

By k on August 4, 2009

BANGKOK, Aug 3 (TNA) – Thailand and Myanmar will start commercial gas production from offshore Block M9 natural gas project on the Gulf of Martaban, south of Yangon in late 2013.

Wannarat Channukul, Thailand’s energy minister said after the ASEAN Energy Ministers meeting last month in Mandalay and bilateral talks between Thailand and Myanmar, the two countries would sign an agreement on selling gas in the fourth quarter of this year.

The operation by a subsidiary of the PTT Exploration and Production Plc. (PTTEP) will produce gas at a volume of about 300 million cubic feet per day (mcfpd) from the M9 gas field.

Of the total daily production, 240 mcf, or 80 per cent, will be delivered for use in Thailand and the remaining 60 mcf, 20 per cent, will be used in Myanmar.

Petroleum reserves are estimated at about 1.5 trillion mcfpd and investment funds of at least one billion US dollars are expected.

The negotiation was earlier delayed due to the economic crisis and the decreasing demand for electricity and gas, said the energy minister. (TNA)

Cabinet asked to approve natural gas deal with Myanmar BANGKOK, 28 December 2009 (NNT) – The Energy Policy and...
National Energy Policy Council approves power purchase from Lao and Myanmar BANGKOK, 27 November 2009 (NNT) – The National Energy Policy...
Visiting Myanmar, Malaysia will benefit Thai trade and investment BANGKOK, 20 December 2009 (NNT) – Deputy Commerce Minister, Mr....
Thai-Myanmar trade exceeds target BANGKOK, 9 February 2010 (NNT) — Trade along the Mae...

Related posts brought to you by Yet Another Related Posts Plugin.

Readers Comments

Business News »

Loan clients urged to be well-prepared for higher finance costs

July 16, 2010

BANGKOK, July 16 – Loan customers, particularly small- and medium-size enterprises (SMEs), must have well-prepared business plans to cope with higher financial costs in the face of an upward interest trend, according to the Kasikorn Research Center (KRC), a leading Thai financial think tank. Kasikorn said that major domestic commercial banks had begun raising the [...]

Bank And Finance »

Commercial banks announce hikes in interest rates on fixed deposits

July 16, 2010

BANGKOK, 16 July 2010 (NNT) —Interest rates on fixed deposits and lending rates have been hiked by financial institutions following the hike in the policy rate by the Central Bank. Krungthai Bank has announced its fixed deposit interest rate hike of 0.25-0.35%, while key lending rates would be increased by 0.125-0.15%, effective today. Siam Commercial [...]

General News »

Summary of the 9th APEC Energy Meeting

July 12, 2010

Thai delegates led by Minister of National Resources and Environment, Suwit Khunkitti, along with international counterparts from 20 countries attended the 9th Asia-Pacific Economic Cooperation (APEC) Energy Ministerial Meeting in Fukui, Japan on 19 June 2010. During the summit, a speech on the “Low Carbon Paths to Energy Security: Cooperative Energy Solutions for a Sustainable [...]

Economy »

4 Govt agencies cooperate to promote Thai investment abroad

July 12, 2010

BANGKOK, 12 July 2010 (NNT) – The Office of Thailand Trade Representative (TTR) joins force with three financial institutions to promote Thai investments abroad, with operators in various business groups showing keen interest in the project. TTR along with SME Bank, EXIM Bank and the Government Pension Fund (GPF) announced their cooperation in credit support [...]

Energy »

Moody´s chops down PTT´s credit

June 29, 2010

BANGKOK, 29 June 2010 (NNT) – An international credit rating firm, Moody’s Investors Service, has lowered the creditworthiness of Thai petroleum giant PTT Plc from A2 to A3 with a negative outlook. Moody’s Investors Service has changed the local currency issuer rating for PTT Plc from A2 stable to A3 negative while the foreign currency [...]

Politics »

One month needed for Interpol consideration over Thaksin´s case

July 16, 2010

BANGKOK, 16 July 2010 (NNT) – A nod from the Paris-based international police intelligence-sharing association, Interpol, over case of self-exiled ex Prime Minister Thaksin Shinawatra should be known within one month. Police Maj-General Terdsak Rujirawong, Commander of the Royal Thai Police Foreign Affairs Division, said on Friday that an arrest warrant on terrorism charge issued [...]