Energy

Myanmar has already hit its investment target of $4bn-5bn for the 2014/15 fiscal year six months ahead of schedule, thanks in part to the energy sector, which attracted $800m of investment in the first half of the fiscal year. As of December 2014 revenue from foreign investments in the oil and gas sector came to more than $15.1bn, second only to the power sector, which stood at $19.3bn. This represents about 30% of the country’s total foreign investments. As Myanmar works to promote renewable energy to complement its insufficient electricity supply, new opportunities within the sector have opened up for foreign investors who can help to boost the country’s power generation. In the long term a fully developed electrification system, along with offshore gas exploration, look set to accelerate Myanmar’s growth in all aspects of the energy sector. To achieve this growth, the government must keep up the pace of its reform programme, in turn speeding up the country’s integration into the world economy.

This chapter contains interviews with U Zay Aung, Minister of Energy; Ken Tun, CEO of Parami Energy Group; and U Zeya Thura Mon, CEO, Zeya & Associates.