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Total in talks with Myanmar to supply LNG

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LNG Industry,

Bloomberg are reporting that Total SA is in talks with Myanmar to supply the country’s most populous city, Yangon, with LNG.

Total, which sold approximately 11 million t of LNG last year, is seeking to expand its footprint in downstream activities like regasification terminals, pipelines and power plants to help create new gas demand as it refocuses away from oil.

The push by Total into downstream operations underscores the concern of global LNG producers as they try to lure new buyers to sop up excess supply that has depressed prices about 70% since 2014.

Creating new demand for gas is crucial and Total has been asked to construct gas-fired power plants in some emerging countries. The company is exploring a project in Indonesia where it could invest in gas pipelines and an independent power plant.

Myanmar issued a request for expressions of interest for an LNG business on 9 September. The country will solicit bids for a US$2 billion project that includes a FLNG terminal with an annual capacity of 3 – 4 million t.

The Southeast Asian nation is seen as a bright spot for energy markets. BMI Research forecasts fuel consumption growth over the next decade as the stabilising business and political climate foster growth in energy-intense sectors like transportation and manufacturing.

Total, which has been operating in Myanmar since 1992, already produces gas from the Yadana field in the Andaman Sea off the country’s west coast that meets about half of its gas needs.

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