Korea Gas Corporation (KOGAS) and Energy Capital Vietnam (ECV) have agreed on a framework for the development of a privately-funded liquefied natural gas (LNG) regasification terminal, storage and gas supply system in Vietnam.
The Korean natural gas company and the US-domiciled asset management firm will also be carrying out a 3,200-MW gas-fired power plant in Mui Ke Ga of Binh Thuan province as part of an attempt to meet the rising LNG demand in the nation.
“This significant milestone culminates a year-long effort with KOGAS,” said ECV CEO David Lewis. “We share similar strategic visions and ECV is proud to have a company as prestigious as KOGAS join a project of this importance. They have been steadfastly dedicated and reliable the entire time and we look forward to our long-term partnership together.”
Given the strong presence of KOGAS in the LNG business and ECV’s position as one of the first LNG movers in Vietnam, the collaboration between the two parties can help bring low-cost LNG to Vietnam and help address critical energy security needs.
A team from international law firm Akin Gump advised ECV in the memorandum of understanding (MOU) negotiations. The scope of the MOU covers matters relating to cooperation and collaboration for the project.
ECV has contracted global engineering company KBR to provide feasibility services and refine cost estimates for the project, including detailed analysis of optimal design combinations. Completion of the study is expected to be achieved in the third quarter of 2019.
Tags:
Tags:
LG Innotek Vietnam Hai Phong secured a $200 million IFC loan as revenue slows, aiming to expand camera module production while meeting sustainability targets.
For Koen Soenens, Sales and Marketing Director at DEEP C, empathy is a compass that guides major deals, the way a leader builds a team, and the ambition to create a sustainable industrial zone that carries a Vietnamese identity.
Taseco Land has shifted its listing to HOSE and introduced a new upward-pointing arrow logo - a visual statement of its strategy to raise capital, expand its land bank, and strengthen its standing in Vietnam’s real estate sector
Located in the heart of Ho Chi Minh City, SAP Labs Vietnam is the second SAP Labs Network hub in Southeast Asia, following Singapore and is one of 20 countries that have SAP Labs globally.
Solar & Storage Live Vietnam event has been running since 2017 and the 2025 edition will be the biggest yet.
A new partnership between EY and the Vietnam-Singapore Board Forum (VSBF) is set to strengthen ESG capabilities for Vietnamese businesses, helping shape more sustainable business models.
