Daewoo International to Sell Gas to China

Daewoo International, a trading arm of South Korea's POSCO, said Thursday it would start sales of natural gas, which will be produced from June in its two offshore gas blocks in Myanmar, to China, The Korea Herald reported.

The two offshore blocks A1 and A3 has been in exploration since 2000 with the Korean firm having 51 percent stake.

The produced gas will be sold to the China National Petroleum Corporation (CNPC) and the gas will be transferred to inland China from Myanmar through a 800km-long pipeline, which will be completed at the end of this month, the newspaper quoted the company as saying. 

Daewoo International expects to be able to produce 5,000 million cubic feet of natural gas every day from the two blocks for the next 25 to 30 years.