Myanmar is seeing its transit trade improves, USD $ 4 billion earned from Kyaukphyu – Kunming gas pipeline29 มิถุนายน 2563
Myanmar is seeing its transit trade improve, and nearly US$4 billion has been earned from the Kyaukphyu-Kunming gas pipeline alone, said Deputy Minister for Commerce Aung Htoo.
He made the remark during a news conference on the ministry’s activities in the fourth year of the government’s term held in Nay Pyi Taw on June 24.
“Depending on our geographical conditions, we need to engage in transit trade. We have seen our transit trade improve greatly. When it comes to the Kyaukphyu-Kunming gas pipeline, we have earned US$3.9 billion,” the deputy minister said.
In the Myanmar-China oil and gas pipeline project, the pipeline connection starts from Yanbye Island in Kyaukphyu Township, Rakhine State. The crude oil pipeline connection starts from Made Island.
Those pipelines connect Rakhine State, Magway Region, Mandalay Region, and Shan State in Myanmar and Shweli (Ruili) of China. The crude oil pipeline is 771 kilometers long and the gas pipeline 793 kilometers long.
The Myanmar-China oil and gas pipeline is around 1,420 kilometers long. Gas transport started in July 2013 and crude oil transport in 2017. So far, Myanmar has exported 19 million tons of crude oil and 13.44 million tons of natural gas.
An official from the Ministry of Commerce said US$2.2 billion had been earned from the export of gas in about eight months of the current fiscal year, falling by US$120 million compared to the same period of last FY.
In the third year of the government’s term, Myanma Oil and Gas Enterprise produced 3.32 million barrels of crude oil and over 623,000 million cubic feet of gas from 86 onshore and offshore oil and gas fields.