{"id":13866,"date":"2022-05-02T18:21:13","date_gmt":"2022-05-02T10:21:13","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=13866"},"modified":"2022-05-02T18:21:15","modified_gmt":"2022-05-02T10:21:15","slug":"japans-eneos-withdraws-from-myanmar-gas-project","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=13866","title":{"rendered":"Japan\u2019s Eneos withdraws from Myanmar gas project"},"content":{"rendered":"\n

TOKYO, May 2 —<\/strong>\u00a0Japanese energy conglomerate Eneos Holdings said today it will withdraw from a gas project in coup-hit Myanmar, days after it’s Thai and Malaysian partners announced they would pull out.<\/p>\n\n\n\n

Eneos is the latest energy giant to retreat from the Southeast Asian country, whose military has waged a widespread crackdown on dissent since it ousted and detained civilian leader Aung San Suu Kyi last year.<\/p>\n\n\n\n

The company is involved in the Yetagun project in southern Myanmar along with the Japanese government and Mitsubishi Corporation.<\/p>\n\n\n\n

\"Eneos\"<\/figure><\/div>\n\n\n\n

Together they hold a 19.3% stake in the gas field, which has been operational for two decades.<\/p>\n\n\n\n

Eneos said it had \u201cdecided to withdraw after discussions taking into consideration the country\u2019s current situation, including the social issues, and project economics based on the technical evaluation of Yetagun gas fields\u201d.<\/em><\/p>\n\n\n\n

\u201cThis withdrawal will be effective after approval from the Myanmar government,\u201d<\/em> it added in a statement.<\/p>\n\n\n\n

An official at Japan\u2019s natural resources and energy agency said that the government \u201ctakes the same position\u201d as Eneos, noting the Yetagun project has experienced a reduction in output over the past decade.<\/p>\n\n\n\n

Malaysia\u2019s Petronas and Thailand\u2019s oil and gas conglomerate PTTEP also announced their withdrawal on Friday. Petronas subsidiary Carigali holds a roughly 41% stake in the Yetagun project, while PTTEP owns 19.3%.<\/p>\n\n\n\n

More than 1,800 civilians have died in Myanmar during the military crackdown and more than 13,000 have been arrested, according to a local monitoring group.<\/p>\n\n\n\n

With the economy tanking and pressure mounting from rights groups, companies from France\u2019s TotalEnergies to British American Tobacco and Norway\u2019s Telenor have upped their sticks.<\/p>\n\n\n\n

Tokyo is a major provider of economic assistance to Myanmar, and the government has long-standing relations with the country\u2019s military.<\/p>\n\n\n\n

After the coup, Japan announced it would halt all new aid, though it stopped short of imposing individual sanctions on military and police commanders.<\/p>\n\n\n\n

NMT<\/a> as reported by AFP<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TOKYO, May 2 —\u00a0Japanese energy conglomerate Eneos Holdings said today it will withdraw from a…<\/p>\n","protected":false},"author":1,"featured_media":13867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,17],"tags":[],"class_list":["post-13866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia","category-economy"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic.jpg",800,600,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic-150x150.jpg",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic-300x225.jpg",300,225,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic-768x576.jpg",640,480,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic.jpg",640,480,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic.jpg",800,600,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic.jpg",800,600,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic.jpg",800,600,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic.jpg",800,600,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/05\/20220321-liquefied_natural_gas_LNG_flame-Pixabay_pic.jpg",633,475,false]},"author_info":{"info":["Editor"]},"category_info":"Asia<\/a> Economy<\/a>","tag_info":"Economy","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13866"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13866\/revisions"}],"predecessor-version":[{"id":13868,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13866\/revisions\/13868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/13867"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}