An LNG vessel owned by Hong Kong-based CNTIC VPower Co. Ltd., which was helping produce electricity for Myanmar, has left Myanmar although they have two more years of their contract with the government to fulfil.

This LNG vessel, which arrived in Myanmar in 2020 when the National League for Democracy-led government was in power to provide LNG gas for the gas turbines connected with the national power grid, left Yangon on 31 March.

The company won the state-level tender for power generation invited by the government and was anchored in Thilawa port in Yangon.

The company signed a contract with the government for the Thilawa project with 350 MW capacity and the Thaketa project with 400 MW installed capacity at the end of 2020 for a five-year term.

Reportedly these two projects had to be stopped in July 2021 as the Military Council could not pay for the service in foreign exchange after the coup.

Energy company sources said that after stopping the power generation the energy vessel was moored at Dolphin Jetty in Thilawa Port Block No. 14 for close to two years.

These power generation projects reportedly had to be stopped due to the rising price of LNG in the global market, the rising US dollar exchange rate in the country, low demand of power and difficulty faced by the ministry to pay for power generation.