Demand for LPG in Myanmar has been growing at 15-20% per annum for the past five years. This growth is driven mainly by the population switching from traditional fuel to LPG as their preferred energy source for cooking. Currently, only 12% of Myanmar’s population is using LPG and there is still considerable room for the growth in demand to continue for the next five to ten years.
Another area where we are seeing huge growth is in Myanmar’s industrial demand for LPG. This is due to the rapid industrialisation in the country over the past few years, driven by massive inbound foreign investment. With the completion of the special economic zone in Thilawa, we believe the trend of industrialization will continue and demand for LPG in this sector will continue to grow in lock-step.
In May 2016, the Myanmar government made an announcement during the conference of LPG Myanmar 2016 of their plan to revamp the licensing system for LPG operators in Myanmar. Since then, the government has issued more than 200 different licenses under a variety of license categories. Many of these new licensees are new players in the industry.
Their appearance has brought new directions to the industry, as the government aims to create an even playing field for all stakeholders. Traditionally, this industry was monopolized by a few major players who thrived through the network they created under the old regime. The new climate presents an exciting opportunity for international companies to explore the merits of investing into Myanmar’s LPG industry.
If you are keen to explore this golden opportunity to enter Myanmar’s LPG industry, make it your first step to contact us at: email@example.com or attend any of our dedicated events in Myanmar.