Yangon – UK Trade & Investment (UKTI) has confirmed that there is still US$ 75 billion worth of untapped natural gas in Myanmar.
In addition, there could be twice this amount still waiting to be explored, the UK organization estimated.
Myanmar ranks number 10 on the list of the world’s largest natural gas producing countries.
The information is stated on the directory for UK investors in Myanmar. UKTI suggests that the British companies can profit from the energy sector.
Currently, Myanmar’s offshore natural gas sites such as Yadanar, Yetagun, Zawtika, and Shwe are supplying natural gas to China and Thailand.
Recently, countries such as India, Australia, the United States, France, Italy, and the United Kingdom have won tenders to explore oil and natural gas in Myanmar’s shallow and deep waters.
UKTI evaluates that after many years of underdevelopment, Myanmar is now a market full of opportunities and challenges for the U.K. companies. It further advises the U.K. investors to be vigilant about the risks and to develop long-term business plans in doing business in Myanmar.