Vietnam signs $10 billion project to build 4 gas-fuelled power plants

Vietnam signs $10 billion project to build 4 gas-fuelled power plants

PetroVietnam Exploration Production Corp (PVEP) and ExxonMobil Vietnam on
Friday signed in Hanoi a US$10 billion project to build four natural
gas-powered electricity plants, Vietnam News Online reported on Saturday.

The two companies also signed a gas and power selling contract.

Deputy Prime Minister Vuong Binh Hue who witnessed the contract signing
ceremony said he appreciated efforts made by PVEP and its US partner since
they signed a production sharing contract in 2009, including the completion
of the latest framework agreement.

He said that to ensure comprehensive development of the Blue Whale gas and
electricity complex, the government and ministries concerned will direct
national power utility Electricity of Vietnam Group and Vietnam National Oil
and Gas Group to quickly reach a framework agreement on buying and selling
electricity generated by the project.

The development of the Blue Whale gas project is expected to be an important
contributor to developing the central region and to supply power to the
south.

In the first phase, the project will supply raw gas for four gas-powered
plants with a total generation capacity of 3,000 megawatts. Gas production
during the expansion phase will provide enough fuel for the fifth power
plant with a capacity of 5,750 megawatts.

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Link to Original Article:
http://englishnews.thaipbs.or.th/vietnam-signs-10-billion-project-build-4-ga
s-fuelled-power-plants/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com