Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
energy sector
Global investment

PTT Exploration and Production of Thailand invests in Myanmar’s energy sector

28.09.2021
2 min read

Myanmar received $2 billion in energy investments

The Thai company PTTEP will invest $2 billion in Myanmar’s energy sector. The funds will be used to develop gas fields, as well as to build a power plant.
PTTEP hopes that the investment will provide Myanmar with great opportunities in the production and use of natural gas, providing an affordable source of energy.
The project is part of the country’s development strategy and implementation of modern energy solutions. According to this plan, by 2030 the entire population of Myanmar should be provided with affordable electricity.
PTTEP’s investments will result in the construction of a gas-fired power plant with a capacity of approximately 600 megawatts. In addition, the Thai company plans to build a pipeline that will connect the field and the power plant. Its length will be 370 km. The object will be located near Yangon – the largest city in the country.
Late last year, PTTEP signed an exclusive agreement with the government of Myanmar to develop the new gas field. According to the agreement, the company will undertake the extraction of raw materials, which will go to the development of the power grid inside the country.Myanmar

Four fields have been discovered offshore Myanmar, one of which is already being developed. The latter is 80% owned by the Thai PTTEP. Although the country needs more gas, until recently Myanmar supplied Thailand and China with almost 80% of its gas production. The government used the proceeds from resource exports to replenish foreign currency reserves. However, the country is actively developing, which requires more electricity. And while previously the hydropower sector was able to cope with the tasks, in the last few years the lack of resources is felt more and more acutely and slows down the pace of industrialization.
PTTEP is part of PTT Public Company, the largest oil and gas corporation in Thailand. It is also ranked among the top 20 global suppliers of raw materials. PTT’s business areas include gas exploration, coal mining, pipeline construction, and the production and sale of electricity, fuel, and lubricants.
The corporation has been on the market since 1978 and is state-owned, with subsidiaries located around the world, including Australia, the United States, Hong Kong, Indonesia, Canada and others.
PTT supports environmental strategy by investing in renewable energy sources, ethanol production, construction of solar power plants. The company owns palm oil production facilities in Indonesia and invests in hydropower in Laos.
However, despite its support for the environment, the company has been implicated in environmental scandals on more than one occasion. One of them occurred in 2009, when an oil spill occurred on a platform in the Timor Sea.

Tags: Global investment
0
Previous Post Kazakhstan Stock Exchange strengthens cooperation with the Moscow Stock Exchange Next Post How Russian-German cooperation on energy issues is carried out

You Might Also Like

expansion of production Ford
Global investment
American automobile manufacturer Ford announced the expansion of the production of electric cars
23.02.2023
Power2X
Global investment
Power2X to build green methanol plant in Estonia
04.07.2024
Shein
Global investment
Chinese retailer Shein plans to raise $1 billion
05.07.2022
investor's offer
Global investment
Investor offer: types and application to bonds
05.07.2020
semiconductor manufacturing
Global investment
China invests in local semiconductor manufacturing
01.07.2023
Toyota plant
Global investment
Toyota to expand plant in Brazil
18.06.2024

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press
16.05.2020

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics