Myanmar expected to sell 50% of gas to Thailand and 20% to China this 2020 – 2021 financial year

Myanmar has expected to sell 50 percent of natural gas produced from offshore projects to Thailand and 20 percent to China while the remaining 30 percent is set for domestic sale, according to the 2020-2021 State budget data. 

In the domestic gas consumption, 85.9 percent will be electricity generation, 5.3 percent for CNG production, four percent for fertilizer production and 4.8 percent for other sectors. 

Eighty percent of income from oil and gas comes from offshore projects and new projects are not yet in a position to operate on a commercial scale, according to the budget data. 

With falling global oil prices due to the Covid-19 pandemic, Myanmar is due to sell gas from Yadana, Yetagon and Zawtika offshore projects to Thailand at a price of US$6 per 1 MMBTU and gas from Shwe offshore project to China at a price of US$5.29 per 1 MMBTU in the current 2020-2021 fiscal year. 

In the 2019-2020 FY, 23,663.16 million kilowatts of electricity were generated—11,618.21 from natural gas and 9,366.35 from hydropower, the Central Statistics Organization quoted the Ministry of Electricity and Energy. 

Source: https://elevenmyanmar.com/news/myanmar-to-sell-50-of-gas-to-thailand-20-to-china-this-year