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Myanmar, the unexpected LNG importer?
Report summary
Myanmar's Ministry of Energy (MOE) is expected to put out a Request for Proposal for its LNG import project imminently. The government is looking to implement the LNG project by 2020 to meet the country's rapidly rising power demand. Paradoxically, Myanmar is exporting over 1,200 mmcfd of its domestic gas to Thailand and China, while there is also significant upstream potential. Yet, reworking the export contracts are tricky and Myanmar cannot get its domestic gas off the ground soon enough. The LNG business has changed significantly in the last two years. Contracts are becoming shorter, and sellers are more accomodative to the buyer's uncertain needs. The number of buyers without investment grade credit ratings are also rising. Will this backdrop allow Myanmar to become one of the most unexpected importers?
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