Vietnamese, US investors to cooperate in LNG project
T&T Group and its US partner Gen X Energy recently worked with leaders of the southern province of Ba Ria – Vung Tau to discuss investing in a liquefied natural gas (LNG) project worth nearly 6 billion USD in the locality.
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| At the working session (Source: sggp.org.vn) |
According to Gen X Energy, the 200ha Cai Mep Ha LNG Complex will consist of two specialised terminals able to harbor 100,000 DWT ships, a LNG storehouse, and gasification and gas transportation systems.
The first phase of the project is expected to become operational by 2023, the second by 2026 and the last by 2030. The complex’s combined gasification capacity is aimed at 9 million tonnes per annum, with total LNG reserve capacity of 800,000 cu.m, and total power generation capacity of 6,000 MW.
Speaking at the working session, Secretary of the provincial Party Committee Nguyen Hong Linh praised the project for its planned use of advanced technology.
He said the large-scale project meets criteria for investment attraction of the province, adding that the local authorities will ask the Prime Minister to approve it and will help T&T Group and Gen X Energy carry out the project as soon as possible.
With 25 years of experience, T&T Group is a multi-industry company. It operates in finance and investment, real estate, agriculture, forestry and aquaculture, transportation infrastructure, seaport and logistics, industry and trade, mineral, energy and environment, health care, education and sports.
Meanwhile, Gen X Energy, backed by Blackstone Energy Partners, is an energy company focused on investing in sustainable energy projects in Asia. The company is seeking opportunities in development and acquisition in imported LNG as well as solar and wind energy, hydropower plant and natural gas and coal projects.
