Some energy firms to halt natural gas development projects

By AFP
20 April 2021
Some energy firms to halt natural gas development projects

Some energy multinationals have decided to halt natural gas development projects in Myanmar amid concerns that the junta is deriving foreign currency from the ventures. But France's Total is poised to remain, arguing that the public stands to lose from electricity shortages, Nikkei Asia reported.

Malaysian oil major Petronas announced early this month that it would indefinitely suspend production at the Yetagun gas field off the southern coast of Myanmar. Petronas holds a 40.9% interest in Yetagun.

According to the Nikkei Asia report, a standstill in gas production would threaten the livelihood of Myanmar citizens. About a fifth of the natural gas is consumed domestically, mainly in the power industry.