Thursday, September 27, 2012

South Korean, Burmese officials discuss Shwe gas project

Thursday, 27 September 2012 15:02 Mizzima News

Burma and South Korean officials discussed the Shwe Natural Gas Project and other issues this week at the 6th Energy and Natural Resources Joint Implementation Committee meeting in Naypyitaw on Tuesday, official media said on Wednesday.

Work underway in the Shwe gas field.  Photo: Shwe Gas

Moon Jaedo, the deputy minister of the Ministry of Knowledge Economy of South Korea, and HtinAung, the deputy minister of the Ministry of Energy participated the meeting, said the New Light of Myanmar.

Topics focused on the Shwe Natural Gas Project, a support system for the exploration of natural resources, mines, energy refineries. the construction of a natural gas-fired hydropower plant, and cooperation on technical development in oil and gas projects.

The Shwe Gas Project is a large-scale natural gas project being developed by Daewoo International Ltd. of South Korea, which holds a 51 percent stake, Korea Gas Corporation (KOGAS), ONGC Videsh Ltd. of India, and GAIL Ltd. of India, in a joint venture with the Myanmar Oil and Gas Enterprise (MOGE), according to the Earthrights website.

Daewoo has been exploring for gas in Burma since 2000 and it discovered the Shwe gas field in western Burma in the Bay of Bengal in 2004.

Shwe gas will be transported  through a 1,200 kilometre overland pipeline from Arakan State, Burma, to Yunnan Province, China, in partnership with a Daewoo-led consortium. The project is scheduled to become operational in 2013, according to reports.

South Korea is ranked 4th in Burma’s lists of foreign investors. From 1988 to July 2012, it has invested about US$ 2.959 billion. Burma’s oil and gas sector has reached US$ 14.181billion in foreign investment in 113 projects as of the end of July, 2012.

Burma is seeking to produce electricity using natural gas, diesel, coal-fire plants, solar power, wind power, biogas and waste fuel in addition to hydropower.

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