Daewoo consortium in $5.6 bln gas deal in Myanmar

SEOUL Tue Aug 25, 2009 1:25am EDT

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SEOUL Aug 25 (Reuters) - South Korea's KOGAS (036460.KS) said on Tuesday a consortium led by Daewoo International (047050.KS) would invest a combined $5.6 billion to produce and distribute gas in Myanmar.

The consortium plans to sell gas output from Myanmar's A-1/A-3 fields to China, a KOGAS official said.

KOGAS plans to spend $299 million and Daewoo would spend a separate 2.1 trillion won ($1.68 billion) for initial investment, the two companies said in separate statements.

(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)

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