Myanmar Highlights
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4 November 2013
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• The Myanmar Oil and Gas Enterprise (MOGE) has announced the winners of the Myanmar onshore oil and gas tenders. In January 2013, Myanmar Oil and Gas Enterprise offered to tender 15 Production Sharing Contracts (PSCs) and 3 Improved Petroleum Recovery Contracts (IPRCs). 13 of the 15 PSCs and all 3 IPRs were awarded.
• According to state media a 500- megawatt coal-fired power plant will be constructed in Kyauktan, near Yangon. The project is a joint-venture between Myanmar’s Ministry of Electric Power, Orange Powergen Pvt Ltd of India, Global Adviser Pte Ltd of Singapore and local company Diamond Palace Services Co. Ltd on a build-operate-transfer basis. In the last twelve months Myanmar has produced approximately 9.73 billion kilowatt-hours of electricity. Production is anticipated to increase by up to 15% by the end of 2014. Due to increasing demand, the government is encouraging the production of electricity from natural gas, diesel, coal fire, solar power, wind power, biogas and waste fuel and hydropower. (From Xinhua, 9 October, 2013) • According to a recent report published by campaign group the Shwe Gas Movement (“SGM”), Myanmar will receive US$900 million a year from the operation of the 793 km. Myanmar-China natural gas pipeline. The twin Shwe oil and gas pipelines were built by the China state-owned National Petroleum Corporation (“CNPC”) to transport natural gas and crude oil from Myanmar to China. At present, only the natural gas line is in operation. The crude oil pipeline is due to be completed by the end of 2013. The Myanmar government has announced it will earn approximately US$1.8 billion a year, for a period of 30 years for a total estimated return of US$54 billion. In 2008 CNPC signed a Memorandum of Understanding (“MOU”) with the Ministry of Energy to buy natural gas produced offshore of Rakhine State. The terms of the MOU had not previously been publically disclosed. The Shwe oil and natural gas pipelines run from Kyaukphyu to Ruili in China’s Yunnan province. (From Eleven Weekly Media, 6 October , 2013) |
• Downtown Yangon is undergoing regeneration as part of Myanmar’s economic development. Improvement and repair works are being made to a number of public attractions including the Independence Monument in Maha Bandoola Park. A new walkway, seating area, mirror pool and water fountain have been incorporated into the re-developed park. Planting and landscaping work has also been completed. The Yangon Heritage Trust is also undertaking renovation works on a number of public buildings including City Hall, the Judiciary Building, Emanuel Church and the historic Sule Pagoda. (From The New Light of Myanmar, 9 October, 2013) • Development work at the 400-hectare Thilawa Special Economic Zone (“Thilawa SEZ”), a joint public/private venture between Myanmar and Japan situated in the Kyauktan Township of Yangon will commence shortly. The Thilawa SEZ will incorporate hospitals, modern commercial space, schools supermarkets, housing, sports grounds, banks and financial institutions, and offices. (From The New Light of Myanmar, 10 October, 2013) • Among the key findings published in East Asia and Pacific Economic Report October 2013 – “Rebuilding Policy Buffers, Reinvigorating Growth” the World Bank has identified a number of positive economic indicators for Myanmar. Myanmar’s GDP increased .3% from 6.5% in 2012 to 6.8% in 2013. GDP growth is expected to continue to increase to 6.9% or higher in 2014. (From Myanmar Update, 10 October 2013) • Central Bank of Myanmar (“CBM”) Governor U Kyaw Kyaw Maung has announced that the CBM is assisting the government with the drafting of a Financial Institution Law which would allow foreign- owned banks to buy stakes in domestic banks. U Thein Tun, chairman of Foundation Bank and the newly elected president of the Myanmar Banks Association said that “If the government allows outside banks to have commercial operations and they introduce new products, then we will not be able to compete given the scale of their investment”. (From Myanmar Times. 14 October 2013) • Zawtika Co. has announced that it has completed the construction of processing and living quarters for an offshore natural gas exploration project at Block M 9 near Mottama. The project is a a joint venture between the Myanmar Oil and Gas Enterprise and PTTEPI Co., of Thailand. The pipeline is expected to be operational by January 2014.( From The New Light of Myanmar, 12 October, 2013 ) |
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Myanmar Oil and Gas Enterprise MOGECNPC Shwe oil and natural gas pipelinesZawtika Co offshore natural gas exploration projectMyanmar Oil and Gas Enterprise tender production sharing contracts PSCCNPC Memorandum of Understanding with Myanmar Ministry of EnergyZawtika Co Block M 9 Mottama, MyanmarMyanmar coal-fired plantDiamond Palace ServicesMyanmar’s economic developmentThilawa Special Economic Zone Thilawa SEZEast Asia and Pacific Economic Report October 2013Rebuilding Policy Buffers, Reinvigorating GrowthCentral Bank of Myanmar CBMMoge MyanmarChina National Petroleum Corporation
Charltons
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