The junta’s energy minister Ko Ko Lwin and his Russian counterparts have discussed the construction of a liquefied natural gas (LNG) terminal near Dawei deep-sea port in southern Myanmar.
He met Russian energy deputy chief Pavel Sorokin and international relations head Alexander Boldyrev at the state-owned Zarubezhneft oil firm in Moscow on Thursday to follow up on an agreement reached between junta boss Min Aung Hlaing and Russian President Vladimir Putin.
The meeting focused on investment at a gas terminal for domestic use and export, fuel pipelines and an oil refinery at the Dawei special economic zone (SEZ). They discussed Russian fuel imports at lower prices, Russian technical assistance in oil and gas exploration and a feasibility study on offshore exploration.
Russia’s development minister, Maxim Reshetnikov, last month agreed to investment cooperation at the Dawei SEZ and port project in Tanintharyi.
The propositions also included a coal-fired thermal power plant in Dawei. Reshetnikov said the oil refinery was the most costly of the proposals.
When Min Aung Hlaing met Russian business leaders, he hailed cooperation in trade, investment, energy, transport, construction, infrastructure, banking, finance, information technology, education, science and health care.
Min Aung Hlaing also praised cooperation to upgrade Dawei SEZ.
Putin and Min Aung Hlaing signed deals on geological research and mineral exploration and discussed energy sector cooperation.
An energy analyst said Russia would probably delay investment at Dawei because of instability in the region and questions about the profitability in Myanmar’s oil market.
Energy discussions with Russia, which began in 2022, are yet to yield any tangible results.
