In order to reduce the cost of power generation, the government intends to allow private companies to import Liquefied Natural Gas (LNG) to Myanmar

The government in­tends to allow pri­vate companies to import liquefied natural gas (LNG) to Myanmar in a bid to reduce the cost of power generation, a min­ister has said.

With the country strug­gling to meet its growing demand for electricity the government sees import­ing LNG and building LNG fired power plants as a possible short-term solution.

“In the near future, we will liberalize restrictions on private sector involve­ment for LNG imports,” U Pe Zin Tun, Minister of Electric Power and En­ergy, told the audience at the Myanmar Oil and Gas Service Society Forum 2017 in Naypyitaw.

State-owned Myanmar Oil and Gas Enterprise (MOGE) is already work­ing together with foreign oil and gas companies to develop offshore and on­shore oil and gas drilling as well as storage facilities to supply the country’s growing energy demand.

Last year MOGE launched a tender for LNG bulk import and regasifi­cation facilities with the help of World Bank Group member, the International Finance Corporation.

“Private sector involve­ment in the oil and gas sector is under implemen­tation and the ministry already called for pri­vate sector involvement in order to minimize envi­ronmental impact, defor­estation, and electricity usage,” the minister said.

The newly released My­anmar Investment Law allows private sector in­vestment in the the oil and gas sector which has opened the door to for­eign inflows into the sec­tor, he said.

In early June, Puma En­ergy Asia Sun became the first foreign firm permit­ted to import, distribute and sell fuel in Myanmar.

“We will create more level playing field by pro­viding competitive op­portunities,” the minister said.

(Myanmar Business Today: http://www.mmbiztoday.com/articles/government-allow-private-companies-import-lng-near-future )

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