April 2, 2008 / 11:05 AM / in 11 years

Myanmar's Yetagun gas pipeline leaking - PTTEP

BANGKOK, April 2 (Reuters) - An offshore gas pipeline from Myanmar’s Yetagun gas field is leaking, causing a loss of supplies to Thailand of about 400-500 million cubic feet per day (cfd), Thai shareholder PTTEP said on Wednesday.

PTT Exploration and Production PCL PTTE.BK was informed of the leak on Tuesday and Malaysia’s Petronas, operator of the gas-rich field in the Gulf of Martaban, was trying to find the cause, chief executive officer Anon Sirisaengtaksin told Reuters.

“They are investigating the reasons and we have to wait for information from Myanmar,” Anon said without eloborating.

PTTEP, a subsidiary of top energy firm PTT PCL (PTT.BK), owns 19.3 percent of the Yetagun gas field and Petronas has a 40.9 percent stake.

Other shareholders include Myanmar Oil and Gas Enterprise and Nippon Oil Exploration (Myanmar).

PTTEP operates five blocks in Myanmar and is a minority partner in the Yetagun and Yadana gas developments. About 1.1 billion cfd of gas output from the two fields is exported to Thailand. ($1 = 31.50 Baht) (Reporting by Pisit Changplayngam; Writing by Khettiya Jittapong; Editing by Michael Battye)

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