Magwe gas plant starts running, VPower says

The gas intended to help plug Myanmar’s electricity shortfall this summer has started operating after almost a two-month delay, according to its developer. VPower Groups’s 23-megawatt gas plant in Kyun Chaung of Magwe Region began commercial operations on June 3 after a power purchase agreement was signed between the firm and the Ministry of Electricity..

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India’s ONGC raises investment in Shwe gas project

India’s Prime Minister Shri Narendra Modi has confirmed that ONGC Videsh Ltd, the overseas arm of Indian national oil company Oil and Natural Gas Corporation Ltd will invest more than US$121 million to produce more gas off the coast of Rakhine State. The investment, which was approved by the Indians on June 24, will go..

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Fuel prices continue falling in Myanmar

  As world oil prices have plunged due to the coronavirus outbreak in January causing a supply glut as the demand slows and Russia and Saudi Arabia are set raise production to grab a greater share of the market and fuel price has decreased by about K400 per litre since the start of the year…

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Myanmar govt considering renewables: energy minister

  The National League for Democracy-led government says it is now considering a number of renewable energy proposals. The Minister of Electricity and Energy U Win Khaing announced the decision after a meeting of the National Renewable Energy Committee this week. He said proposals being considered include 61 solar power projects totalling 5746.37 megawatts in..

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EIA process for Kyaukphyu port to start

  Chinese state-owned CITIC is set to initiate bidding for its environmental impact assessment (EIA) consultant for its port project in central Rakhine following the environmental ministry’s response to its project proposal. The Ministry of Natural Resources and Environmental Protection (MONREC) last month designated the Kyaukphyu deep-sea port project as an EIA-type project after screening..

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Industrial zone in Kyaukphyu SEZ to be built at $30B

  An industrial zone project within the Kyaukphyu Special Economic Zone (SEZ) in Rakhine State will be developed for US$30 billion, deputy commerce minister U Aung Htoo told Pyithu Hluttaw this week. CITIC Consortium from China owns 51 percent of the industrial zone while the Myanmar government owns 49pc, he said. The industrial zone will..

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New gas field discovered in offshore Rakhine

  South Korean conglomerate Posco International Corporation has discovered a new gas field in Block A3 at the Shwe natural gas project located offshore Rakhine, The Myanmar Times understands. The company confirmed that it had found a gas column of around 18 meters at its Mahar-1 exploration well after it began exploratory undersea drilling in Block..

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