Total, Chevron suspend Myanmar cash distributions
French Total, acting in the wake of a joint proposal it put forward with US major Chevron earlier this month at the annual meeting of the Moattama Gas Transportation Company (MGTC) in Myanmar, said May 26 all cash distributions to MGTC’s shareholders have been suspended.
Total, Chevron and Thailand’s state-owned PTTEP have come under increasing pressure over MGTC’s perceived support of the military junta in Myanmar, which is reported to have killed more than 700 dissidents, including 47 children, since it overthrew the Myanmar government in February.
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The fourth partner in MGTC – which carries natural gas about 400 km from the Total-operated Yadana field to the Myanmar/Thailand border – is the state-owned Myanmar Oil & Gas Enterprise (MOGE), considered the main financial lifeline for the military junta.
“Total continues to act as a responsible operator of the Yadana field, maintaining the production of gas in accordance with applicable laws, so as not to disrupt the electricity supply that is vital to the local populations of Myanmar and Thailand,” Total said in a statement. “Total condemns the violence and human rights abuses occurring in Myanmar and reaffirms that it will comply with any decision that may be taken by the relevant international and national authorities, including applicable sanctions issued by the EU or the US authorities.”
Last week, US president Joe Biden imposed sanctions on the junta’s state administrative council, an entity the US Treasury said had been created to support its overthrow of the democratically-elected government of Myanmar. The European Union (EU), the UK and Canada have also imposed sanctions on members of the junta, on conglomerates owned by Myanmar's military, and on industries from which military leaders draw profits.