Fri 14 Sep 2007
Filed under: Business / Trade,News
In a response to media reports that Myanmar has picked up China as a gas buyer from the A-1 and A-3 fields off the Rakhine coast, CNPC Foreign Affairs Department told China Business News it has not received such news from its subsidiary that is operating the bid for Myanmar gas.
Jointly held by Republic of Korea’s Daewoo International, Korea Gas Corporation, India’s Oil & Natural Gas Corporation and Indian Gail, the A-1 and A-3 fields off the Rakhine coast have proven reserves of 5.7 trillion to 10 trillion cubic feet. China, India and Thailand have been biding to buy gas from the above blocks through pipelines.
Despite CNPC’s saying, market experts expect Myanmar gas would eventually be able to feed southeastern region of China.
The Myanmar gas to China would also pose pressure on Russian side in the ongoing Sino-Russian negotiation on pumping Russian natural gas to China, experts believe.
CNPC in January ever signed an agreement with the energy department of Myanmar on exploring AD-1, AD-6 and AD-8 deepwater blocks off Myanmar western coast.
Myanmar has at least 90 trillion cubic feet of gas reserves, ranking the 10 in gas reserve in the world.