U.S. engages industry leaders on liquefied natural gas cooperation with Vietnam

By Quynh Chi - Dec 08, 2018 | 09:29 AM GMT+7

TheLEADERThe U.S. Trade and Development Agency has announced its intention to support Vietnam Electricity Corporation to develop a liquefied natural gas terminal in the southern part of the country.

U.S. engages industry leaders on liquefied natural gas cooperation with Vietnam
U.S. Deputy Assistant Secretary of Commerce for Manufacturing Ian Steff.

The U.S. Trade and Development Agency (USTDA) will fund a feasibility study that will aid Vietnam Electricity Corporation (EVN) in its assessment of site selection opportunities and other important core elements of the development of the liquefied natural gas (LNG) terminal including marine port, storage, regasification, and related infrastructure. 

This will allow EVN to plan its use of LNG as a fuel source for power generation and the necessary terminal, vessel services and facilities.

Last year, the United States became a net exporter of natural gas for the first time since 1957 and will become one of the top global LNG exporters in the coming years, and U.S. energy firms are working with local partners to develop Vietnam’s LNG import and gas-fired power generation capacity. 

Leaders from AES, Alaska Gasline Development Corporation, Cheniere, Energy Capital Vietnam, Excelerate Energy, ExxonMobil, and Marsh, amongst others, were on hand to share best practices and strengthen the ties between the United States and Vietnam. 

At a workshop on U.S. - Vietnam cooperation in Vietnam’s LNG power and infrastructure industry recently held in Ho Chi Minh City, U.S. Deputy Assistant Secretary of Commerce for Manufacturing Ian Steff encouraged project owners to plan and develop Vietnam’s energy infrastructure utilizing life-cycle costing methods. 

Those methods emphasize the total cost of owning, operating, and maintaining the infrastructure over its life, including both tangible inputs, such as feedstock, and intangible outcomes such as impacts to the environment.

According to U.S. Ambassador to Vietnam Daniel J Kritenbrink, energy policy and associated decisions are not always easy. Like others, Vietnam has important and difficult decisions to make about its energy sector in the near future. 

He adds that the investment choices Vietnam makes will impact its energy security, its environmental quality, and its ability to sustain its incredible economic growth for generations to come.