Moattama Gas Transportation Co. has suspended cash distributions to its shareholders, following a proposal by the two main partners Total and Chevron.
(Courtesy Total)
Offshore staff
PARIS – Moattama Gas Transportation Co. has suspended cash distributions to its shareholders, following a proposal by the two main partners Total and Chevron.
MGTC’s gas transportation system takes gas produced from the Total-operated Yadana field offshore Myanmar 400 km (248 mi) to the Myanmar/Thailand border.
Total said it is continuing to act as a responsible operator of the field, maintaining production in accordance with applicable laws so as not to disrupt the electricity supply to the local populations of the two countries.
However, the company said that it condemns the violence and human rights abuses taking place in Myanmar and will comply with any decision taken by relevant international and national authorities, including sanctions issued by the EU or the US authorities.
