Putin: Russian companies ready to undertake hydrocarbon exploration in Myanmar

Russian President Vladimir Putin said on Tuesday (18/8) that Russian companies are ready to participate in hydrocarbon exploration and production projects in Myanmar.

Speaking at a joint press conference with Myanmar President Min Aung Hlaing following their meeting, Putin stated that the two countries are considering the joint construction of power plants and an oil refinery in southern Myanmar, describing the energy sector as a key area of bilateral cooperation.

“There are good prospects for arranging the export of liquefied natural gas from Myanmar. Not only for domestic consumption, but also for transit supplies to neighbouring countries,” Putin said.

He said the two countries are working on several large-scale joint projects and have agreed on a series of intergovernmental and commercial agreements, with economic cooperation as one of the main priorities.

Putin mentioned that Moscow and Naypyidaw are also discussing plans to build a deep-sea port on Myanmar’s southern coast capable of accommodating large vessels.

He also highlighted the close military and military-technical cooperation between the two countries.

“Bilateral naval exercises are regularly held in Myanmar’s offshore waters. Russian naval vessels also make port calls in Myanmar,” he said.

Following the Russia-Myanmar talks held during Min Aung Hlaing’s official visit to Russia, the two countries also signed a joint declaration opposing sanctions and seeking to mitigate their negative impacts, as well as a memorandum of understanding on cooperation in the electronics industry and digital technology.