[Posco Daewoo]
SEOUL -- Posco Daewoo, a trading company affiliated with South Koren steel giant Posco, normalized the operation of a Myanmar natural gas plant this week after its Chinese partner fixed a pipeline damaged by a landslide in June.
The South Korean company said Tuesday that China National Petroleum Corp. (CNPC) completed work Sunday on restoring the damaged gas pipeline in Guizhou province in southwest China. Posco Daewoo has received financial compensation.
The pipeline is an extension of a Myanmar-China gas line that delivers natural gas from Kyaukpyu on Myanmar’s coast to southwest China. Posco Daewoo has a 30-year supply contract with the Chinese state gas company. CNPC plans to complete the construction of a new safe pipeline by the end of this year. Myanmar is an important natural gas producer in Asia and exports gas to Thailand and China.
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