Myanmar ended the 15 years of military rule in 2010 through an election, which was seen as a step towards political democracy and reform. As a result, the US and the European Union lifted their 15 years of sanctions forbidding Myanmar companies to engage in economic activities. The lifting of sanctions lead to the opening up of Myanmar oil and gas reserves. The military government, which previously ruled Myanmar, was accused of breaching human rights and corruption.
Contrastingly, some current government critics believe that nothing has changed, especially in the Myanmar oil and gas industry. Before the sanctions were lifted, Myanmar’s offshore oil and gas industry was controlled by Asian companies, mostly from China. The Myanmar government's move to get more households to use LPG in cooking is one of the plans to increase the use of this kind of fuel to supply the country’s electricity to targeted sectors.
Elite petrochemical launched its first LPG import and distribution facility in May 2018 at Thilawa Special Economic Zone, Yangon. The terminal was established under the build-operate-transfer models. It includes a storage tank of 3000 tonnes and jetty for cargo handling. Elite Petrochemical is currently developing the second phase to expand its LPG storage capacity to 25,000 tonnes and 100,000 tonnes of petrol and diesel.
Elite Petrochemical aims to be the best company in Myanmar oil and gas industry by supplying LPG products in the entire state. As a result, Elite has been importing about 4,000 tonnes of LPG every month. Since the demand continues to increase daily, Elite is planning to supply its products to at least one million households by the end of this year.
Additionally, Elite supplies its clients with the best available LPG products. With an impressive track record, all Elite petrochemical products comply with all safety regulations and are environmentally friendly.