§ 15. SENSE OF CONGRESS WITH RESPECT TO INVESTMENTS IN BURMA’S OIL AND GAS INDUSTRY.
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Findings and Declarations .— Congress finds the following: Currently United States, French, and Thai investors are engaged in the production and delivery of natural gas in the pipeline from the Yadana and Sein fields (Yadana pipeline) in the Andaman Sea, an enterprise which falls under the jurisdiction of the Burmese Government, and United States investment by Chevron represents approximately a 28 percent nonoperated, working interest in that pipeline. The Congressional Research Service estimates that the Yadana pipeline provides at least $500,000,000 in annual revenue for the Burmese Government.
The natural gas that transits the Yadana pipeline is delivered primarily to Thailand, representing about 20 percent of Thailand’s total gas supply. The executive branch has in the past exempted investment in the Yadana pipeline from the sanctions regime against the Burmese Government. Congress believes that United States companies ought to be held to a high standard of conduct overseas and should avoid as much as possible acting in a manner that supports repressive regimes such as the Burmese Government.
Congress recognizes the important symbolic value that divestment of United States holdings in Burma would have on the international sanctions effort, demonstrating that the United States will continue to lead by example. Statement of Policy.— Congress urges Yadana investors to consider voluntary divestment over time if the Burmese Government fails to take meaningful steps to release political prisoners, restore civilian constitutional rule and promote national reconciliation.
Congress will remain concerned with the matter of continued investment in the Yadana pipeline in the years ahead. Congress urges the executive branch to work with all firms invested in Burma’s oil and gas sector to use their influence to promote the peaceful transition to civilian democratic rule in Burma. Sense of Congress .— It is the sense of Congress that so long as Yadana investors remain invested in Burma, such investors should— communicate to the Burmese Government, military and business officials, at the highest levels, concern about the lack of genuine consultation between the Burmese Government and its people, the failure of the Burmese Government to use its natural resources to benefit the Burmese people, and the military’s use of forced labor; publicly disclose and deal with in a transparent manner, consistent with legal obligations, its role in any ongoing investment in Burma, including its financial involvement in any joint production agreement or other joint ventures and the amount of their direct or indirect support of the Burmese Government; and work with project partners to ensure that forced labor is not used to construct, maintain, support, or defend the project facilities, including pipelines, offices, or other facilities.”