[Date Prev][Date Next][Thread Prev][Thread Next][Date Index ][Thread Index ]

News (r)




--------------ECCDA1411F6E35CC733800DA
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit

FINANCIAL TIMES  Thursday  March 18   1999

CONTROVERSIAL CONTRACT

Thailand defers payment for Burma gas pipeline

Thailand has deferred its first payment of $62m to the consortium that
built the controversial Yadana gas pipeline across Burma. The
state-owned Petroleum Authority of Thailand said yesterday the payment
would be deferred until negotiations over the 30-year take-or-pay
contract, between PTT Exploration and Production, a PTT subsidiary, and
the French company Total had concluded.

PTT said it was not about to renege on the contract - merely check that
it could be re-interpreted in the light of changed economic conditions.
Analysts said a main factor was Thailand's slump in demand for gas.

The pipeline was built despite accusations that its military protectors
would engage, or had engaged, in human rights abuses against ethnic
minorities in the area.

The contract required PTT to take 65m cubic feet of gas per day from
August last year, rising to 525 mmcfd over 15 months. So far only 5
mmcfd has been accepted.


William Barnes, Bangkok




--------------ECCDA1411F6E35CC733800DA
Content-Type: text/html; charset=us-ascii
Content-Transfer-Encoding: 7bit

FINANCIAL TIMES  Thursday  March 18   1999 

CONTROVERSIAL CONTRACT 

Thailand defers payment for Burma gas pipeline 

Thailand has deferred its first payment of $62m to the consortium that built
the controversial Yadana gas pipeline across Burma. The state-owned Petroleum
Authority of Thailand said yesterday the payment would be deferred until
negotiations over the 30-year take-or-pay contract, between PTT Exploration
and
Production, a PTT subsidiary, and the French company Total had concluded. 

PTT said it was not about to renege on the contract - merely check that it
could be re-interpreted in the light of changed economic conditions. Analysts
said a main factor was Thailand's slump in demand for gas. 

The pipeline was built despite accusations that its military protectors would
engage, or had engaged, in human rights abuses against ethnic minorities in
the
area. 

The contract required PTT to take 65m cubic feet of gas per day from August
last year, rising to 525 mmcfd over 15 months. So far only 5 mmcfd has been
accepted. 
  

William Barnes, Bangkok 
  
  
  --------------ECCDA1411F6E35CC733800DA--