Yangon – Myanmar Oil and Gas Enterprise (MOGE) is planning to partner with private investors, according to an official from MOGE.
“We are at the stage of discussing from which sections we should start with,” said the above official.
The discussion will cover 10 sections under the Ministry of Energy.
According to reports from domestic NGOs such as the Asia Foundation and MDRI, Myanmar Oil and Gas Enterprise (MOGE), currently owned by the Ministry of Energy, will be transformed into a corporation as the first step.
Myanmar’s energy sector consists of oil and natural gas; electricity; coal; renewable energies such as solar, wind, and geothermal; nuclear energy; effective energy management; etc. Private companies are highly interested in cooperating with the ministry and sharing the profits in these sectors, these NGOs assessed.
In January, Ministry of Energy announced in Nay Pyi Daw that it would allow citizen-owned companies to invest in oil and natural gas exploration projects. As the first measure to promote participation from the private sector, MOGE is being corporatized.
About 18-20 million cubic feet of natural gas are sold to natural gas vehicles daily, and Yangon has 41 compressed natural gas (CNG) filling stations.