… Burma’s state energy firm has signed a deal with South Korea’s Daewoo and Korea Gas Corporation, and India’s ONGC Videsh and GAIL. Daewoo holds the leading 51% stake in the deal.
The deal will see gas from Shwe reserves in waters off the Burmese state of Rakhine piped to China to supply China’s National United Oil Corporation. China’s Xinhua state news agency says it is a 30-year deal.
As well as Burmese ministers, the signing ceremony was attended by executives from both Korean firms, ONGC Videsh and the Chinese corporation, the New Light of Myanmar newspaper reported.
It gave few further details of the deal, but earlier reports from Beijing suggest construction will start in the new year.