JavaScript is off. Please enable to view full site.

Vietnam city says approves LNG project to be developed by Exxon Mobil

Saturday, October 03, 2020, 07:03 GMT+7
Vietnam city says approves LNG project to be developed by Exxon Mobil
A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. Photo: Reuters

HANOI — Vietnam's port city of Hai Phong said authorities had approved a $5.09 billion liquefied natural gas power and terminal project due to be developed by Exxon Mobil Corp XOM.N and to start power generation in 2026-27. 

In a statement issued late on Thursday, the city’s People’s Committee said the power plant would have an initial capacity of 2.25 gigawatts (GW) and that would be expanded to 4.5 GW by 2029-2030.

It said the project would also include a terminal with a capacity of six million tonnes of LNG per year.

Exxon Mobil did not immediately respond to a request for comment.

In June, Vietnam’s government said it welcomed Exxon Mobil’s move to invest in the country following a phone call between Prime Minister Nguyen Xuan Phuc and Irtiza Sayyed, President of ExxonMobil LNG Market Development Inc.

The government said in a statement at the time that a power project in Hai Phong could use LNG imported from the United States or other countries.

The Institute of Energy of Vietnam is drafting a new master power development plan and has compiled a list of 22 LNG power plants with a combined potential capacity of up to 108.5 GW, the first of which will be operational by 2023.

The Hai Phong committee said on Thursday the city had also approved another $1.9 billion LNG power project with a capacity of 1.6 GW.

It said the first phase of the plant would be operational from 2025 and the entire plant from 2028, but did not specify a potential developer or investor.

Reuters

More

Read more

;

Photos

VIDEOS

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Latest news