Gas reservoir yields 1.14 mln cubic meters of natural gas per day in Myanmar
YANGON, Feb. 18 (Xinhua) — A gas reservoir in an offshore block situated in western part of Myanmar was discovered yielding about 1.14 million cubic meters of natural gas per day after drill stem testing, said a release from the Ministry of Electricity and Energy Myanmar on Tuesday. After initial exploratory drilling procedures since November […]
Posco International discovers new gas field in Myanmar
Posco International said Monday that it had discovered a new offshore gas reservoir near Myanmar, raising hopes for a new cash cow for the company. According to the Korean company, it began exploratory undersea drilling on Jan. 12 for its Mahar gas project. The company drilled 2,598 meters into the seabed, more than 1,000 meters […]
Myanmar to increase renewable energy sources
YONGAN, Feb 13 (Eleven Media Group/ANN) — Myanmar is trying to increase the content of renewable energy sources by tapping all available energy sources to generate electricity, said Union Minister for Electricity and Energy Win Khaing. As the country is blessed with solar energy, wind power and other renewable energy sources, a 40-megawatt solar power […]
Chinese State Firm, HK’s VPower to Implement Three Electricity Projects in Myanmar
YANGON—Amid the government’s efforts to avoid power shortages across the country, a Hong Kong company has announced that its joint venture with Chinese state-owned CNTIC will invest in three power plant projects in Myanmar with a total capacity of 900 megawatts (MW) and an estimated value of over US$800 million (1.2 trillion kyats). Hong Kong-listed […]
VPower, CNTIC form JV to operate Myanmar emergency power plants
Hong Kong-listed VPower Group has set up a 50-50 joint venture with a Chinese state firm to develop three power plants in Myanmar as part of the government’s bid to stop power cuts this year. VPower, which enjoys close links with investment bank CITIC, and state-owned China National Technical Import & Export Corporation (CNTIC) will […]
Hydropower and the worsening water crisis for Myanmar and Asia
By Andrew Landen – Myanmar is caught between a rock and a hard place. As the government seeks to pick up the pace of development, electrical power is needed and hydropower is touted as an “environmentally-friendly” solution in order to switch on the lights. But there are a number of problems with how this process […]
French businessmen eyeing investment in Myanmar
YANGON, Feb 7, Eleven Media Group/ANN — French business people interested in Myanmar called on State Counsellor Aung San Suu Kyi on February 5, the State Counsellor Office reported. The State Counsellor received the MEDEF International business delegation at the Ministry of Foreign Affairs in Nay Pyi Taw.. During the meeting both sides discussed investment […]
OCBC, UOB provide US$44m green loan to Myanmar conglomerate
THE Yangon branches of OCBC Bank and United Overseas Bank (UOB) have extended a US$44 million green loan to Myanmar’s Shwe Taung Group. Close to US$30 million of the loan came from OCBC, while UOB provided the balance, according to a joint statement by OCBC and Shwe Taung on Wednesday. The Myanmar conglomerate’s subsidiary, City Square Commercial […]
