Myanmar: Chevron sells 41.1 percent stake in Yadada Gas Project to Canadian oil company MTI Energy
"Justice For Myanmar calls for Canadian and UK sanctions on MOGE following MTI Energy’s investment in the Yadana Gas Project", 1 February 2023
US oil major Chevon is selling its 41.1% stake in the Yadana Gas Project to a subsidiary of the Canadian oil company MTI Energy. Chevron first disclosed the deal to the Guardian.
Yadana is the biggest gas project in Myanmar, within an industry that is the largest source of foreign revenue for the illegal military junta. Gas revenue bankrolls the junta’s ongoing war crimes and crimes against humanity.
MTI Energy Inc, based in Edmonton, Alberta, is an offshoot of oilfield equipment manufacturer Mitey Titan Industries and located at the same address. MTI Energy CEO Mehtab (Tab) Khehra has been described as heading “a whole galaxy of service companies active in Cameroon, Congo, Gabon, Equatorial Guinea and especially Nigeria.”
Justice For Myanmar spokesperson Yadanar Maung says: “Chevron’s irresponsible sale of its stake in the Yadana Project to MTI Energy will ensure that gas funds keep flowing to the illegal Myanmar junta, bankrolling their campaign of terror in response to two years of mass resistance that has prevented the junta from gaining control of Myanmar.