Natural gas deal between Burma, China

A South Korean led international consortium has reached a deal to sell natural gas from Burma to China.

The consortium has been led by Daewoo International, operator of two natural gasfields in waters off Burma.

It says it signed a memorandum of understanding with the China National Petroleum Corporation last week.

Daewoo says it expects more than $US10 billion in profit in the next 25 years starting in 2012, when the production of natural gas is expected to begin.

Burma has attracted relatively little investment from the West, with Western governments denouncing the ruling junta for its poor human rights record.

(ABC)