LNG TERMINAL PROJECT:- Against a backdrop of escalating energy demand, anxiety over energy security and rising environmental concerns, LNG is set to play a critical role in ASEAN’s future energy ecosystem.
Asia currently accounts for approximately 72 present of global LNG consumption and, despite the diversity of the region’s LNG markets that proportion is poised to grow steadily.
The markets of North Asia (Japan, Korea and Taiwan) are mature and well established and will remain major buyers of LNG, albeit their growth will be limited.
In order to fulfill the current shortage of energy in Myanmar and in Southwest region of China, as well as to take effective response to the declines of Shwe field, the MCM consortium considers that construction of LNG Receiving Terminal at Madae Island must be a good solution. The location of Madae Island is more suitable for the Jetty and Terminal construction because of 25 meter deep sea.
According to the preliminary market estimation, the terminal will be constructed in different phases, and the Project Phase I will be with a design capacity of 3 MTPA, which is planned to be put into operation in 2025; Phase II of this project will be with a design capacity of 3 MTPA which will be expanded at suitable time according to the market demand, and the total capacity of this project will reach 6 MTPA.
MCM is developing this project in consortium. MOU is already signed by consortium members. MCM purchased 160 acres land at Madae Island, District – Kyauk Phyu, Rakhine State (Myanmar) for LNG Terminal.