Natural Gas Sales Agreement Signed for Domestic Consumption

An agreement for the sale of natural gas extracted from the Yetagun area in offshore block M-3 of Mottama, between the Ministry of Electricity and Energy, Myanma Oil and Gas Enterprise, and Thailand's PTTEP International Limited, to be used domestically, was signed on the afternoon of July 31 at the Ministry of Electricity and Energy office in Nay Pyi Taw, the Ministry of Electricity and Energy announced. U Ko Ko Lwin, Union Minister for Electricity and Energy, stated that although a production sharing agreement for the Yetagun project in offshore block M-3 was signed in 2004, it was delayed and interrupted for various reasons, and discussions were only able to resume in 2023, leading to the signing now. He added that the natural gas produced from this project will be primarily used for domestic electricity generation, and efforts will be made to distribute electricity to Yangon and Ayeyarwady regions with minimal loss. Furthermore, it is understood that the necessary natural gas for fertilizer production factories will also be supplied. The project is expected to begin producing natural gas by the end of 2028, and Union Minister U Ko Ko Lwin called for increased investment in natural gas exploration and production activities in Myanmar's promising offshore blocks. Following this, officials from the Ministry of Electricity and Energy and the General Manager and Deputy CEO of PTTEP signed the natural gas sales agreement.