24-06-08 Thailand's state-run PTT has signed a heads of agreement for the purchase of natural gas from block M9 offshore Myanmar, the company said.
The agreement was signed between PTT and PTTEP International, a wholly owned subsidiary of PTT Exploration and Production, and Myanmar Oil and Gas Enterprise. PTTEPI has a 100 % stake in block M9.

Under the agreement, PTT will lift 240,000 mm cfpd of gas from M9 and PTTEPI will sell 60,000 mm cfpd to Myanmar.
"The gas price will be based on the existing price under the gas sales agreement between Myanmar and Thailand," PTT said.

PTT has contracts to import a little over 1 bn cfpd of natural gas from the Yadana and Yetagun fields offshore Myanmar. The company imports around 400,000 mm cfpd from Yetagun and 600,000 mm cfpd from Yadana.
Block M9, located in the Gulf of Martaban, is estimated to hold 1.5 tcf of natural gas and PTTEP plans to bring it online in 2011.