US News A mounting used by Total financed the Burmese junta, reports the world
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Total-Burma: A montage used by Total financed the Junta Burmese, reports the world
Paris (Reuters) - a complex financial assembly passing through the Bermuda used by Total and its partners since the 1990s has allowed the military to power in Burma to divert from the State funds hundreds of millions of dollars from Gas sales produced in the country, reports on Tuesday the newspaper Le Monde.
According to the daily, which relies in particular on documents that have led to the Burmese administration shortly after the military coup of February 1, the system is first based on the Moattama Gas Transportation Company (MGTC), domiciled company In Bermuda and the owner of the pipeline carrying the gas from the yadana deposit to Thailand.
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Total is the operator of this deposit and holds 31% of its capital, as is the first shareholder of MGTC with the same part of the capital of this company.
The world reports that the Domiciliation to the Bermuda of MGTC has helped maximize the profits paid to the shareholders of the company - which also include Thai Pettep, the American Chevron and the Burmese MOGE - and to "minimize taxes paid to the Burmese state, great loser of this system ".
The Myanmar Oil and Gas Enterprise (MOGE), an agency of the Ministry of Energy, does not publish its accounts and, with other public enterprises, for years of income in a category "Other accounts" Opaque accounts including the direction and beneficiaries are not known.
Human Rights and United Nations investigators argues that the Company has close links with the Burmese Army's commercial structures.
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In its responses to the newspaper, published in full by Total, the group refutes the idea of "extraordinary profits" in Burma and says not to know the precise reasons that led the choice of domicile MGTC in Bermuda 30 years ago, While recognizing that such an assembly would no longer be possible given its policy to no longer stay any new subsidiary in tax havens.
Total, which indicates that the yadana deposit is declining and will only remain in operation for "around 2025", adds that the profit sharing scheme between the transport and the production of gas, "classical", " been endorsed with the [Burmese] authorities of the time and continued with the successive governments until today. "
The CEO, Patrick Pouyanné, also provided early April that Total had paid "no tax or tax" at the military junta since the beginning of the crisis in February, "simply because the banking system no longer works" .
Asked about the Journal's article Le Monde, Chevron, for its part, declared that it conformed, as well as its subsidiaries, to all applicable laws and contractual requirements.
(Benjamin Mallet and Sarah White, edited by Blandine Hénault)
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