ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Myanmar Crisis

Gas majors halt Myanmar projects while Total stays put

Companies seek to choke off junta's funds, but power shortages could hurt locals

The seas off the coasts of Southeast Asian nations have numerous oil and gas rigs, including this one in Singapore.   © Reuters

BANGKOK -- Energy multinationals have decided to halt natural gas development projects in Myanmar amid concerns that the junta is deriving foreign currency from the ventures. But France's Total is poised to remain, arguing that the public stands to lose from electricity shortages.

Malaysian oil major Petronas announced early this month that it would indefinitely suspend production at the Yetagun gas field off the southern coast of Myanmar. It declared force majeure over "a drastic decline in production level" since January, with output "well below the technical turndown rate," an executive said in a news release.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more