Myanmar ditches India for China in gas deal

[MirBadshah]

Myanmar ditches India for China in gas deal
Sanjay Dutta
[ 9 Apr, 2007 0000hrs ISTTIMES NEWS NETWORK ]



NEW DELHI: India has lost the match to China for getting natural gas from Myanmar.

Despite India's efforts at pampering the ruling junta with increased military aid, Yangon has chosen Beijing over New Delhi for selling the gas to come out of the two undersea fields where two Indian state-owned firms together hold 30% equity.

According to official reports from Yangon, a March 14 MoU with Beijing says "the entire natural gas" from A-1 and A-3 blocks in the Rakhine offshore area will be sold to China. It will be wheeled through a 2,380-km pipeline connecting Myanmar's Kyakphyu in the Bay of Bengal to Rili in China's Yunan.

In return, China will pay Yangon an annual transit fee of $150 million for 30 years for the pipeline's 990-km stretch in Myanmar. The MoU was signed during the visit of a Chinese delegation led by PetroChina president Wang Lihua.

The MoU seals the fate of efforts by flagship overseas explorer ONGC Videsh and gas utility Gail - which hold 20% and 10% respectively in the blocks - to bring even their share of Myanmar gas to India. The reaction of South Korea's Daewoo, which is in charge of operations in the two blocks and the main suitor for gas, will be interesting to watch.

http://timesofindia.indiatimes.com/...for_China_in_gas_deal/articleshow/1876203.cms

 

[Contrarian]

This should be in the economic section i think.

 

[MirBadshah]

Anything else you have to contribute? I mean why all of your energy goes in to spell check and thread location?

Please try to read little bit, it would become your habit after some time.

 

[Contrarian]

I need to see, because this is not where the thread should be. This is economic news, and if you had remembered seeing old posts, there probably is this newpeice already posted by Neo i think.

 

[con]

Myanmar ditches India for China in gas deal
Sanjay Dutta
[ 9 Apr, 2007 0000hrs ISTTIMES NEWS NETWORK ]



NEW DELHI: India has lost the match to China for getting natural gas from Myanmar.

Despite India's efforts at pampering the ruling junta with increased military aid, Yangon has chosen Beijing over New Delhi for selling the gas to come out of the two undersea fields where two Indian state-owned firms together hold 30% equity.

According to official reports from Yangon, a March 14 MoU with Beijing says "the entire natural gas" from A-1 and A-3 blocks in the Rakhine offshore area will be sold to China. It will be wheeled through a 2,380-km pipeline connecting Myanmar's Kyakphyu in the Bay of Bengal to Rili in China's Yunan.

In return, China will pay Yangon an annual transit fee of $150 million for 30 years for the pipeline's 990-km stretch in Myanmar. The MoU was signed during the visit of a Chinese delegation led by PetroChina president Wang Lihua.

The MoU seals the fate of efforts by flagship overseas explorer ONGC Videsh and gas utility Gail - which hold 20% and 10% respectively in the blocks - to bring even their share of Myanmar gas to India. The reaction of South Korea's Daewoo, which is in charge of operations in the two blocks and the main suitor for gas, will be interesting to watch.

http://timesofindia.indiatimes.com/...for_China_in_gas_deal/articleshow/1876203.cms

India's ONGC has a share in the wells. Hence it is either gas or money.
Also who cares if you get gas or money. either of them is profitable.

 

[MirBadshah]

India's ONGC has a share in the wells. Hence it is either gas or money.
Also who cares if you get gas or money. either of them is profitable.

Yes you are right.

But in this case the Iranian gas would become more important for India, what do you think. The energy needs are there, things can not run if energy resources are not available even with money.

 

[Contrarian]

Iranian gas is important, but not as much. Estimates have put that India will have surplus gas in the future on account of recent gas finds.

Nevertheless, IPI pipeline should be pursued.

 

[MirBadshah]

I dont know my dear from where you get your facts and how do you calculate the consumption and supply ratio!

India have 15% of world population and 1% world's natural resources, now unless India have an increase of 1500% in resources it would be dependent on outside.

 

[Contrarian]

here:
http://www.atimes.com/atimes/South_Asia/HL13Df01.html

And there was also a report in this forum itself, i think it was by Neo. Neo, could you find it please mate.

There have been huge gas finds in Bay of Bengal area mate. But developing these gas fields would take a lot of time. Like i said, its excellent to go for the IPI pipeline.

 

[MirBadshah]

Mere genius,

I am know how much reserves and whats production capacity.

Tell me have India attained the world's average or no, I repeat it for 15% population of the world India needs to have 15% of worlds natural resources to be at par.

Even most of countries have less consumption then india.

If it do not have 15% of world's natural resources then India have to import.

Plese try to understand the comments before you reply.

 

[Contrarian]

Dude, i have given you a source. Having 15% of the worlds population does not mean that you HAVE to need 15% of recources. That is one seriously flawed logic.

If India has 15% of the worlds population, is it necessary that India must also have 15% of the worlds gas reserves?
With the amount of gas consumption that India has and is projected to have, the amount of gas reserves projected in India are more than sufficient or could be more than sufficient.

That is all what is implied. If it is beyond your belief that India could have sufficient gas reserves then think what you may, I would rather trust my country's ministry.

 

[MirBadshah]

It is not a flawed logic my genius, it is fact, do you know how much is per capita energy consumption in India?

With higher per capita consumption compared to many countries in world, India needs more then 15% of world resources.

While it have mere 1% of world's natural resources.

Please do some study, you love posting comments and have to spend a long time with you to make you understand.

 

[Contrarian]

Then please do take the effort to 'enlighten' me.

I post the simple fact, bottomline is the Indian Ministry is saying so. And i'd take their word over many others.

Apart from that, its not as if India has stopped its plans for procurement of gas. The IPI pipeline is being discussed and hopefully a deal will be signed.

 

[MirBadshah]

We also have some ministers in Pakistan like India, less you listen them that batter, there are some good website on energy, you can google these, indipendent international sources are always reliable.

 

[Skull-Buster]

if india doesnt has enough gas for itself, how can it think of exporting gas????