SEOUL, KOREA - Daewoo International Corp., a major general trading company, said on May 23 it would start selling natural gas produced from the gas fields in Myanmar from July this year. The company will carry the gas from offshore gas platforms to Kyaukpyu, a port town 400 kilometers northwest of Yangon, and transport it through a 800-km pipeline to be completed by the end of May to border areas in China. All the gas will be sold to the state-run China National Petroleum Corp.
Daewoo International expects that it will be able to make about 400 billion won a year for the next 25 to 30 years. The available gas reserves in the fields that Daewoo is developing are 4.5 trillion cubic feet, or 800 million barrels of oil equivalent.
Lee Dong-hee, vice chairman of Daewoo International, said, "This is a valuable achievement that would have been impossible without the selfless devotion of our people who have kept us going under adversity. We will keep working hard to develop a second gas field in Myanmar."
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