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.
