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July 29, 2010

Thailand to Seal Myanmar Natural Gas Purchase Deal

Thailand is set to sign a deal to buy natural gas from the Zawtika offshore field in the Gulf of Martaban, Myanmar. Thailand Energy Minister Wannarat Charnnukul said the natural gas purchase deal will be signed between Thailand's state-controlled PTT PCL, state-owned Myanmar Oil and Gas

By cms admin

Thailand is set to sign a deal to buy natural gas from the Zawtika offshore field in the Gulf of Martaban, Myanmar.

Thailand Energy Minister Wannarat Charnnukul said the natural gas purchase deal will be signed between Thailand’s state-controlled PTT PCL, state-owned Myanmar Oil and Gas Enterprise and PTTEP International.

PTTEP will supply an initial 30 million cubic feet of natural gas from offshore block M9, of which 240 million cubic feet per day will be delivered to Thailand and the rest to Myanmar, reports Reuters.

The offshore block is expected to hold petroleum reserves of 1.4 trillion cubic feet per day.

Myanmar natural gas accounts for about 30% of Thailand’s consumption.

The Zawtika field output will raise Thailand’s natural gas import from Myanmar to 1.2 billion cubic feet per day.

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