Thai businesses put Myanmar investments on hold amid escalating conflicts

Thai energy giant PTT has also postponed new investments in its two Myanmar businesses – exploration & production (PTTEP) and retail (OR) – although existing operations like gas delivery continue.

Thailand currently imports about 10% of its natural gas from Myanmar.

OR launched a fuel storage and retail joint venture with Myanmar’s Brighter Energy (BE) in 2019, holding a 35% stake. It operates the largest fuel depot in Myanmar, with a capacity of 1 million barrels of oil and 4,500 metric tonnes of liquid petroleum gas (LPG), as well as filling stations and Amazon coffee outlets.

OR has halted investments in the BE project and shut Amazon outlets in conflict zones. However, it has taken a wait-and-see approach to the conflict and says there are no plans to withdraw investment permanently.

Challenges for existing investors

Existing Thai businesses in Myanmar are facing…