Home to one of the world’s oldest oil and gas industries, the energy sector has long been a key pillar of Myanmar’s economy. While the sector continues to play an essential role in economic output, its true potential has not yet been realised, partly due to a counterproductive fiscal regime and unfavourable market conditions. Despite a number of setbacks, successive governments have made important steps towards unlocking Myanmar’s energy potential. With natural gas reserves of an estimated 16.6trn standard cu feet and some 139m barrels of crude oil reserves, substantial investments in exploration have led to billions of dollars in annual export revenue.
This chapter contains interviews with U Win Khaing, Minister of Electricity and Energy; and Javier Rielo, Vice-president, Total Asia Pacific.