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Daewoo may help sell Burmese gas

June 06,2007
Daewoo International Corp., a Korean trading company, is in talks with the government of Burma, also known as Myanmar, to sell natural gas from the Southeast Asian country through pipelines.
Daewoo International, head of a group of partners developing gas projects in Burma, will decide how to sell the fuel based on the discussions, the company said in a statement to the Korea Exchange yesterday. The group is developing gas reserves in areas known as Block A-1 and A-3, in which Daewoo International has a 60 percent stake and Korea Gas Corp. owns 10 percent. GAIL India (Ltd.) owns 10 percent and Oil & Natural Gas Corp. 20 percent. China, Thailand and India have submitted bids to buy the gas through pipelines, while Korea and Japan are interested in buying liquefied natural gas, Cho Sang-yeon, a spokesman at Daewoo International said on March 21.
LNG is natural gas that has been chilled to liquid form, reducing it to one-600th of its original volume at minus 161 degrees centigrade (minus 259 F), for transportation by sea.
China and Burma are in talks to build a pipeline to supply the growing Chinese economy, U Myint Kyi, managing director of Burma Oil & Gas Enterprise, said on Jan. 29. Myint Kyi didn’t identify which field will supply the line.


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