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Myanmar may decide by month end if it will export natural gas to India or China after a consultant
Myanmar may decide by month end if it will export natural gas to India or China after a consultant, Genesis Oil and Gas Consultants of UK, makes a presentation on monetising reserves found in Block A-1.
Genesis, appointed by block operator Daewoo International of South Korea, will make a presentation in London on June 27-28 on the options for developing Block A-1, where Indian firms ONGC Videsh Ltd and GAIL (India) Ltd (BSE:532155) together hold 30 per cent interest, an industry official said.
Pipeline exports to China or India are likely to be the most favoured option to exploit Block A-1 gas discoveries off Myanmar.
"A number of possible development options remain under consideration, including a liquefied natural gas project with exports likely destined for South Korea (Daewoo and compatriot Kogas have 70 per cent equity in A-1) and/or pipeline exports to countries such as Thailand, China and India," he said.
Daewoo had earlier indicated that it would announce its decision on which projects to pursue after reserves are certified by mid-2006 following the latest drilling campaign and once it had filed a declaration of commerciality. Reserves at the Shwe (gold) field, one of several giant structures on A-1, have been independently certified at between 2.88 trillion and 3.56 trillion cubic feet of gas by Houston-based consultant Ryder Scott Company.
The official said while GAIL has already completed a Detailed Feasibility Report for a US$3 billion onland Myanmar-India gas pipeline bypassing Bangladesh, preliminary studies have also been done for a pipeline to China.
BIZ/FINANCE ARTICLES
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