Myanmar junta says Russia to step up as major energy supplier after more international oil, gas firms quit
27 May 2022
Russia is shaping up to be a major energy supplier for Myanmar amid an exodus by international players from the country’s oil and gas sector, one of the junta’s biggest sources of foreign revenue.
Last month, Malaysian state-owned firm Petronas and Thailand’s PTTEP said they would stop operations in Myanmar’s US$700 million Yetagun gas field [...].
Their exit came several months after Chevron and TotalEnergies withdrew from the Yadana gas project [...]. The French firms cited the worsening human rights situation in Myanmar as the reason for their departures.
According to reports, Russia is considering supplying energy to Myanmar via oil tankers through the Black Sea or via Japan to get energy from Russia to market at a reasonable price. [...]
She added that Eneos and Petronas’ decision to exit the Yetagun project has prompted the junta to seek a new operator for funds to pay for arms. She urged their partners to prevent this and to close the nearly-depleted field.