Thailand’s PTTEP looks set to expand its stake in Myanmar’s biggest gas field

28 January 2022
Thailand’s PTTEP looks set to expand its stake in Myanmar’s biggest gas field
PTT Exploration and Production is a partner in the Yadana gas field in the Andaman Sea off Myanmar. The gas is delivered to power plants in Thailand and to Myanmar’s domestic market. Photo: PTTEP

Thailand's state oil and gas explorer looks set to take over Myanmar's biggest gas field, as TotalEnergies and Chevron Corp leave in the wake of last year's coup in Myanmar, Reuters reports.

Analysts say a move by PTT Exploration and Production Pcl (PTTEP) to become operator of Yadana field, in which it already has a 25.5 percent stake, would keep vital gas supplies flowing to Thailand and Myanmar, and could safeguard revenues for Myanmar's government amid tighter US and other sanctions.

French company TotalEnergies and American company Chevron said on Friday they were leaving Myanmar as a result of the difficult humanitarian situation following the coup.

Focus is on the Yadana gas project that Thailand’s PTTEP could be a candidate for the takeover, according to an analyst who spoke with Reuters.