Myanmar's unexplored but rich natural resources have transformed it into one of the fastest-growing countries in the region. The government set an agenda for economic reforms in 2011, alongside an uptick in growth, the removal of international sanctions and an influx of foreign investors, particularly in the energy sector. The country's strategic location within the...
As reforms aimed at integrating Myanmar into the world economy gather pace, the country is making efforts to boost its power generation capacity. The Myanmar National Electrification Plan (NEP) aims to achieve 100% electrification by 2030, an ambitious plan given that as of September 2014, only 33% of the population had access to electricity, the peak load is 2171 MW and...
The oil and gas sector has formed one of the most important objects of the government’s ambitious programme of economic reforms over the past few years. A rise in licensing activity will contribute to increased exploration, responding to a surge in demand for oilfield services. Foreign investment from some of the world’s largest oil and gas companies has played a pivotal...
Under plans revealed in October 2014, state-owned energy firms in Myanmar will be able to seek foreign partnerships to improve operations and open up downstream energy operations to investment. The energy industry is set to become one of the most attractive prospects for overseas investors following a reduction in the role of the state and the launch of new power...
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 November 2014, the US-based ACO Investment Group announced that it was developing two 150-MW solar energy plants in Myanmar, valued at $480m. The...
The country has long had big ambitions for the downstream segment of its energy sector, and 2014 was the year when they finally began to take shape. The $10bn oil processing and petrochemicals complex planned by China’s Zhejiang Hengyi in Brunei Darussalam passed a crucial milestone in February 2014 when Hengyi and the Bruneian government formed a joint venture, Hengyi...
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