Myanmar has earned a total of US$7.2 billion from natural gas, the top export product of the country, during the two years of civil government’s administration, according to the Ministry of Commerce.
The country hit a new record of gas
exports in the fiscal year 2012-13 with a total earning of $3.7 billion.
It also yielded $3.5 billion in 2011-12, the statistics show.
There has been a surge in gas exports since the civil government took office from the military regime in 2011.
Compared to 20 billion earning in
2006-07, the latest figures have nearly doubled in six years. Even in
2010-11, it still earned only $2.5 billion from gas exports, according
to the ministry’s statistics.
Myanmar is now ranked as tenth largest
gas exporter in the world. It is currently exporting majority of gas to
Thailand. About 430 million cubic feet of gas are sent to Thailand every
day, according to the official reports.
Myanmar extracts natural gas mainly from Yadana and Yetagun offshore gas projects on the Western coast of the country.
When the two more gas projects _Shwe Gas
Project & Zawtika Project_ begin exporting gas towards the end of
this year, Myanmar will see another surge in gas exports for the fiscal
year 2013-14, observers said.
The country will earn increased billions
of dollars from gas exports every year, but analysts warn that the
government needs to make appropriate use of revenue from those earnings
in a transparent manner to avoid corruption and instability.
source: Eleven Myanmar
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