Myanmar Puts Local Needs First

摘要

Western companies are homing in on Myanmar's natural gas riches now that most sanctions have been suspended. Except for BP, all the majors and leading gas players such as BG, Woodside and Santos bid in the first offshore round late last year, attracted by what many call the "last frontier" in Southeast Asia. State-owned Myanma Oil and Gas Enterprise (MOGE) estimates recoverable gas resources offshore at more than 10 trillion cubic feet (280 billion cubic meters). But investors, including Asian companies already implanted in Myanmar, will have to take account of growing domestic demand, which will limit the potential for exports and could trigger questions about retaining gas subsidies.