Myanmar: What’s Behind Chevron’s Giant Myanmar Gas Sale?

Apr 22, 2016 | Rui Hao Puah, Diplomat
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U.S. energy giant Chevron is offering up for sale its entire gas block stake in Myanmar, valued at an estimated $1.3 billion, Reuters reported in an exclusive earlier this week. Chevron has purportedly already started working with an American investment bank with regards to a potential sale. If the deal goes through, it would mark the biggest sale involving Myanmar’s assets, eclipsing the previous record of Singapore’s Sea View Hotel Ltd’s $1 billion purchase of a hotel property in 2005. Analysts have argued that it could set the tone for future deals in Myanmar, boosting claims that the country is now more open for business under the new democratic government led by the National League for Democracy (NLD). In that vein, the deal is likely to be watched closely by state, institutional and corporate investors alike.