1. NEWS

  2. NEWS

  3. Hyundai Shipbuilding wins $450 mln deal to work for Myanmar's gas project
Hyundai Shipbuilding wins $450 mln deal to work for Myanmar's gas project

Hyundai Shipbuilding wins $450 mln deal to work for Myanmar's gas project

During the first phase of production, which will end in 2025, the French state will spend one billion euros, the Ministry of the Armed Forces said.

A+A-

Officials from the ministry declined to comment on media reports that the vessel will cost more than EUR 5 billion ($6.05 billion).

On December 8, Korea Shipbuilding & Offshore Engineering said it had won a letter of intent from Posco International to construct a platform for gas compression that would be deployed in the Andaman Sea by the first half of 2024. The platform will be linked to the current platform to ensure a regular gas supply of 500 million cubic feet.

Posco International, a trading arm of the Posco steel company in South Korea, manages 51 percent of the overall joint investment, which also includes companies from India and Myanmar. Gas fields have been built in three stages, with the completion of the first phase in 2013.

In Asia, Myanmar is an important producer of natural gas and exports gas to Thailand and China.

Posco International delivers natural gas from Myanmar's coast to southwest China via a Myanmar-China gas pipeline under a 30-year supply deal with China National Petroleum Corp. (CNPC).

Maritime Business World 

Previous and Next News

COMMENT ADD

WARNING: Do not use words containing insults, swearing and words against personal and religional beliefs. Comments containing capital letters will not be approved.