Myanmar's Power Consumption Forecast to Reach 4,531 MW by 2021
Myanmar's power consumption is projected to reach 4,531 megawatts in 2020-2021, necessitating an increase in power generation. The Ministry of Electricity and Energy plans to construct LNG-fired power plants due to anticipated declines in natural gas production.
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Myanmar's electricity consumption is forecasted to hit 4,531 megawatts for the 2020-2021 period, with an annual growth rate of 15 to 19 percent. Current production stands at 3,189 megawatts, requiring an additional 1,342 megawatts to meet demand.
The government plans a series of power generation projects: 439 megawatts in 2018, 750 megawatts in 2019, 260 megawatts in 2020, 971 megawatts in 2021, and 891 megawatts in 2022. The decline in natural gas production from the Yadanar gas project by 2021 is prompting the ministry to explore offshore and onshore natural gas and oil reserves, while also inviting bids for new oil well development. The current energy mix includes hydro (15%), HFO (18%), gas-fired (30%), LNG (32%), and solar (5%).
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