Hyundai gets Burma gas contract

Under the contract, HHI will build offshore and onshore plant at the Shwe project off northwest Myanmar by March 2013. Daewoo International has agreed to supply gas from the field from May of the same year through a pipeline to China.

The project will produce 15 million m3 of gas per day for between 25 and 30 years. The field is estimated to hold between 4.5 trillion and 7.7 trillion cubic feet of gas. HHI will build a 40,000 tonne offshore gas platform, a subsea production system, pipelines, an onshore gas terminal, a jetty and a supply base.

Myanmar, which has been ruled by the military since 1962, is under economic sanctions by the United States and Europe because of its human rights record. Their impact, however, has been weakened as neighbours such as China, India and Thailand spend billions of dollars for a share of its oil and gas reserves.