Natural Gas Myanmar: Opportunities in LNG, Exploration and Production, Offshore Marine and Technology
Natural Gas Myanmar 2018 Conference and Exhibition will take place on the 8-10 May 2018 in Yangon, Myanmar. As the only natural gas event supported by all major stakeholders in Myanmar, this year’s event is expected to see a record attendance of delegates and exhibitors as we go through two days of sharing, networking and exploring business opportunities in the natural gas industry of Myanmar and a site visit to natural gas facilities in Yangon.
Contrary to the rest of the world, Myanmar remains one of the few countries left where the demand for gas exceeds its supply, largely due to its undeveloped infrastructure.
Myanmar has undergone massive transformation in the past 5 years, fueled by its very robust GDP growth is averaging at more than 6% per annum coupled with massive FDI which, according to Statistic by Myanmar government, has exceeded 77 billions USD in 2017.
Nevertheless, such short term high economic growth brings with it demand for energy that must be met before further growth can continue. With a forecast demand growth for energy at 10-15% per annum, Myanmar’s demand for natural gas must be met either through new productions or imported LNG.
LNG Situation in Myanmar
At LNG Myanmar 2017 Conference, the Ministry of Energy and Electricity (MOEE) together with the World Bank Group highlighted the urgency of the development of LNG terminal(s) in Myanmar. During the conference, The World Bank Group also reaffirmed they could take up the role as the ‘guarantor at last resort’ if financing is an issue for the investment in the LNG terminal.
It is expected that the LNG terminal will be targeted with annual capacity of 4 million tonnes with a 200km pipeline link and a 1 gigawatt power station near the terminal. As for the location, The World bank Group has also completed a technical study to shortlist 5 suitable areas as the proposed site for the LNG terminal in Myanmar.
E&P, Offshore and Marine
Demand for electricity will increase from 300% to 450% by 2030, according to estimates by MOEE and Japan International Cooperation Agency (JICA). Currently, gas from domestic production accounts for almost 45% of all electricity production in Myanmar. With expected decline in production from existing offshore gas blocks by 2021, the Myanmar government needs to find more ways to increase the supply before shortages affect the continuous growth of the economy.
In the first half of 2017, there were many bright spots from the E&P activities from the major players who were exploring and drilling at some potential big sites for gas. However, recent rumors that a few gas major players are postponing or planning to return the gas fields has dampened the industry. Challenges such as the difficult regulatory prices coupled with the increasingly difficult geopolitical situation in Myanmar had been cited as reasons by these players.
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