Daewoo may help sell Burmese gas

Home > Business > Industry

print dictionary print

Daewoo may help sell Burmese gas

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.

More in Industry

Not your average churned milk

I scream, you scream, pandemic boosts sales of ice cream

Hyundai, Naver heads offer their visions for Moon's New Deal

Vehicle exports fell 33 percent in first half

'It's never too early to start preparing for 6G,' says Samsung Research head

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now