India, China in race for Myanmar gas

India and China are racing to secure a lock on a newly discovered offshore natural gas field in Myanmar, believed to be one of the largest such finds in Southeast Asia, the reclusive nation's ambassador to the Philippines said today.

"The Arakan field, close to India and Bangladesh and estimated to contain trillions of cubic feet (tens of trillions of cubic liters), was discovered this year by a joint venture involving South Korea's Daewoo, an Indian firm and state-run Myanmar Oil and Gas Enterprises," ambassador Thaung Tun said.

He told the foreign correspondents association here that the rapidly growing economies of its two giant neighbours, New Delhi and Beijing, are eyeing the field to fuel growth in India's planned eastern industrial centre.

Thaung Tun said the Arakan field could also supports a plan by the Association of Southeast Asian Nations (ASEAN) to build an ASEAN-wide natural gas pipeline.

"Exploration has confirmed that this is a major deposit, in the trillions of cubic feet," the envoy said.

"This could contribute to the regional gas network." ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.