Myanmar’s gas riches attract Asian investors

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Politically and economically isolated for more than a decade, Myanmar is being thrown a lifeline by its Asian neighbours, which are jostling to spend billions of dollars to tap the country’s energy resources.

Slightly smaller than the US oil state Texas and bordering the Andaman Sea and the Bay of Bengal, little explored Myanmar is estimated to hold 13-15 trillion cubic feet (tcf) of natural gas, 7 per cent of total proven reserves in Southeast Asia.

Aggressive state companies from China, India, Thailand, Malaysia and South Korea, undaunted by US and European sanctions, are looking to invest their big cash piles to develop Myanmar’s gas fields and build pipelines and hydropower dams.

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