Thailand to invest in energy project in Myanmar

BANGKOK, June 19 (TNA) - Thailand, through PTT Public Company Limited (PTT), the country's largest petroleum firm, and Ratchaburi Electricity Generating Holding Public Company Limited (RATCH), will next week sign an accord to jointly invest in constructing a liquefied natural gas (LNG) warehouse in Myanmar. Energy Minister Narongchai Akrasanee told journalists of the update on Friday, noting that the planned joint investment is aimed at encouraging Thailand's state enterprises and private-run energy firms to cooperate on investment overseas to boost national energy security and to earn the country more revenues. Narongchai said he recently travelled to Myanmar, where authorities agreed in principle that the LNG warehouse should be built and an imported LNG would be mixed with reduced amount of gas of Myanmar for use in electricity plants in both countries, with three million tonnes of LNG to be initially imported by Thailand annually. As the ASEAN Economic Community (AEC) is scheduled to be formed among member countries of the Association of Southeast Asian Nations (ASEAN) by the end of this year, the energy minister suggested that Thai investors first invest in ASEAN, starting in Myanmar, Indonesia and Vietnam. (TNA)