Reuters: Myanmar gas exports seen rising on ramping up of new China pipeline

Myanmar's earnings from natural gas exports fell in the last fiscal year as more of the resource was consumed domestically but shipments of greater volumes to China as a new pipeline comes up to speed are expected to boost earnings this year.

Myanmar earned $3.299 billion from the export of gas during the 2013-14 (April/March) fiscal year, down from $3.666 billion in 2012-13 and compared to $3.502 billion in 2011-2012 and $580 million in 2003-2004, according to data released on Wednesday by the state-run Central Statistical Organisation (CSO).

Gas exports are a crucial revenue source for the Southeast Asian nation, accounting for nearly 30 percent of its total exports of $11.204 billion in the last fiscal year.

Win Maw, a senior energy ministry official, said the drop in exports in the last fiscal year was due to the allocation of more gas for domestic consumption after redrawing the agreement with Thailand's PTT, previously the sole buyer of gas from offshore blocks in the Mottama Sea in southern Myanmar. MORE