NEWS - THAI GOVERNMENT ALLOWS PTT T

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Subject: NEWS - THAI GOVERNMENT ALLOWS PTT TO PAY FOR YADANA GAS 

REUTERS: THAI GOVERNMENT ALLOWS PTT TO PAY FOR YADANA GAS">REUTERS: THAI
NOTE:Shouldn't we say something about this STUPID decision ??

GOVERNMENT ALLOWS PTT TO PAY FOR YADANA GAS
24 August, 1999
BANGKOK, Aug 24 (Reuters) - State-owned Petroleum Authority of
        Thailand (PTT) received approval from the government on Tuesday
to make
        a payment of $50.5 million to Yadana gas producers.The payment
covers the first tranche of a take-or-pay agreement it
        has with a Total -led consortium which produces natural gas at
the gas
        project in Myanmar.The amount is a discount from $62 million
originally charged to PTT,
        Thailand's gas monopoly.PTT did not pay the first bill, which
has been due since March, on
        the grounds that the energy content in the gas from Yadana was
lower
        than agreed in the 30-year contract.The Yadana field is operated
by a consortium led by Total and
        includes PTT Exploration and Production and U.S.-based Unocal .