YANGON – Myanmar National Energy Management Committee will promote international energy collaboration in the country, according to a statement issued by the committee on Wednesday.
The statement included nine points of national energy policy based on the “Myanmar Energy Sector Policy Draft Working Paper” drafted by international and national energy experts.
The committee is to implement short and long term comprehensive energy development plan, to institute laws, rules and regulations in order to promote private sector participation.
The statement also said it would also privatise state energy organisations in line with State Economic Reform Policy.
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“The committee will also promote energy efficiency and energy conservation.
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“The Research, Development, Design and Dissemination Institution will be established in order to keep abreast with international practices in energy resources exploration and development works,’’ it said.
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The National Energy Management Committee and Energy Development Committee were formed on Jan. 9, 2013 to propel the development of energy and electrical sectors.
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According to the Central Statistical Organisation, Myanmar produced 6.1 million barrels of crude oil and 13.162 billion cubic metres natural gas in the fiscal year of 2013 to 2014.
According to official statistics, Foreign Investment in Myanmar’s oil and gas sector amounted to 15.18 billion dollars as of October, accounting for 30.22 per cent of the total. (Xinhua/NAN)