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Myanmar as Economic Miracle Hinges on Natural Gas Bounty: Energy

Myanmar’s opening to foreign investment has been compared to the fall of the Berlin Wall and the start of an economic growth story to emulate Vietnam. How those views pan out will be largely decided by natural gas.

Exxon Mobil Corp., Woodside Petroleum Ltd. and Oil India Ltd. are among 59 global energy companies lining up for a share of Myanmar’s estimated $75 billion bounty of the fuel, according to the country’s energy ministry. While oil and gas have been pumped for decades, investment largely dried up during almost five decades of military rule that ended in 2012.