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

Myanmar's natural gas income in jeopardy as foreign firms exit

Human rights concerns prompt Chevron, Thailand's PTTEP to think twice about projects

Development of offshore natural gas fields has stalled in Myanmar. (Photo courtesy of MPRL E&P)

BANGKOK/HOUSTON, U.S. -- The Myanmar government is facing a potential crisis of dwindling revenue, as overseas energy companies pull out of natural gas operations in the country one after another, squeezing the ruling military's primary source of foreign income.

PTT Exploration and Production (PTTEP),  a subsidiary of Thailand's state-backed energy company PTT, has postponed a project where investments were slated to reach $2 billion, including power generation. Western companies including Chevron have almost exited the country entirely, pushed in part by pressure from human rights campaigners after the military took control of the Southeast Asian country in February 2021.

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