The withdrawal was completed on April 5, 2024, and took effect from April 1, 2024.

Chevron's subsidiary, Unocal Myanmar Offshore Co Ltd. (UMOC), made the exit due to growing concerns over worsening human rights conditions in the country.

Total Energies had also previously announced plans to leave the natural gas joint venture for similar reasons.

PTTEP took over as operator of the Yadana gas project in Myanmar in 2022 after Total Energies withdrew.

Chevron announced in February 2023 its intention to sell its stake, but instead, it was redistributed to PTTEP and MOGE, increasing PTTEP's interest to 62.96%.

The Yadana field, which began producing natural gas in 1998, lies in the Gulf of Moattama and produces around 6 billion cu meter per year, with 70% exported to Thailand.

The text summarizes that the majority of transported gas in Myanmar goes to the Thailand border through the Moattama Gas Transportation Company for use in Thai power plants.

The remaining gas is supplied to the Myanmar market.

The imported gas from Myanmar, primarily from the Yadana field, makes up approximately 14% of Thailand's gas demand.

(Source: Chevron website as of Mar. 31, 2024)