Thailand’s state-owned PTT Exploration and Production (PTTEP) has been granted approval to build a USD 2 billion multi-faceted natural gas project in Myanmar. The project involves gas field development, a new pipeline and a nearly 600 megawatt gas-fired power plant. These plant will be built 60 kilometers from Yangon and includes a new transmission line to the city, according the Nikkei Asia Review.
“This project will also support the Myanmar Sustainable Development Plan and its Energy Master Plan, which aims for all households to have access to electricity by 2030,” Nikkei Asia Review quoted Phongsthorn Thavisin, chief executive of PTTEP, as saying.
The project represents a win for Thailand in the race to help Myanmar reach those aforementioned energy goals. Along with hydroelectric generation, natural gas is one of the country’s largest sources of electricity. China remains Myanmar’s main partner for offshore extraction, pipelines, refined fuel imports, power plants and other infrastructure. But Asian neighbors like Japan, South Korea, India and, in this case, Thailand have made significant gains in recent years. PTTEP already has major stakes in two of Myanmar’s four offshore energy blocs.