Gas reserves estimated at 8.1 trillion cubic feet

Myanmar is exploring the Yadanar, Yetagun, Shwe and Zawtika natural gas projects. At the Yadanar offshore gas field, a 30-year project, Total E & P Co from France has sold 600 million cubic feet of gas to Thailand daily since 1998. The company distributes 180 million cubic feet of gas for local use daily. “Another one is the Yetagun offshore natural gas project explored by the Malaysian company Petronas. It has produced 430 million cubic feet of gas and 9,700 barrels of light oil daily since 2000. The crude oil had been sold overseas, but now they are refining [it] at the Thanlyin refinery,” said Kyaw Kyaw Hlaing, chairman of Smart Electric Co. 

Unlike oil, gas cannot be sold on the spot but must be converted to liquefied natural gas and connected with pipelines to neighbouring countries.

“We can’t it sell directly. We have to conduct analysis first in order to confirm how big the gas field is, how many years it can produce and also the quality,” Kyaw Kyaw Hlaing said.

“We ask for advice from third-party companies, depending on the geophysical results that come out of the survey. After looking at the results, the buyer and seller sign for the take-off pay agreement. The buyer has to produce the gas for 30 years, if they agreed to buy it for 30 years. So the explorers have income after 10 years.” The report says Myanmar is exploring 77 oil fields and has offered to explore 66 additional offshore and onshore oil fields in the past two years. 

 

Circular train service commences

A new circular train started service on November 1 and won people’s interest. Instead of an ordinary running circular train operated by Myanmar Railways (MR), six small carriages upgraded at the Myitnge carriage workshop are being used at the moment.

“We are making the carriages as comfortable as we can for travellers. MR will charge 300 kyat per ticket for domestic travellers and US$1 for foreigners at the new circular railway. 

The launch of the circular train was inaugurated by the railways minister on November 1. “Although it is the very first day of launching, travellers are so many,” said Khin Maung Tun, who is in charge of the circular train conductors.

On the new circular train, the benches are made of fibre and six fans are installed in each carriage. 

“It is very comfortable to take a train with fans and rings for holding. But, if the train cost is reduced to the present amount, people will prefer trains to buses in the future. Because taking buses nowadays require a lot of time,” said a man living in Insein.

 

Export earnings see 21-per-cent jump year on year

The Commerce Ministry yesterday reported a 21-per-cent jump in the country’s export earnings from April-September.

Myanmar earned US$5.68 billion from exports, which is up from $4.69 billion in the same period last year. Strong agricultural and industrial exports are among the key factors behind the surge in Myanmar’s earnings.

The country earned more than $2 billion from exporting industrial products, $1 billion from agricultural goods, $1 billion from mineral exports, $360 million from timber and wood products, $270 million from marine products and $5 million from animal products in the first half of this fiscal year.

Myanmar is drafting a national strategy for boosting exports and building its competitive advantage.

Prioritised export goods such as rice, beans, marine and wood products have been set as part of the new government strategy. Tourism was also mentioned as being a prioritised service, and rubber growing is seen as having good prospects.