Giant corporations from the US, Switzerland and France are rushing into Vietnam to invest in promising liquefied natural gas-to-power projects, raising the question whether Vietnam’s gas sources and infrastructure will be up to the task of meeting the demand. illustration photo Within just one year, a series of corporations such as AES, EDF, and Energy Capital Vietnam expressed their expansion strategies in Vietnam, boasting gas-to-power projects worth billions of dollars. In a meeting with Prime Minister Nguyen Xuan Phuc last week, US-based Energy Capital Vietnam reaffirmed its plan on the construction of a $4 billion liquefied natural gas (LNG)-fuelled power plant, for which the company signed a memorandum of understanding with the Mekong Delta province of Bac Lieu in May this year. It is scheduled to start operation in late 2021 with the capacity of 1,000 megawatts (MW) in the first phase and offering a competitive tariff of 7 UScents per kWh, even lower than the current level of 7.8 cents for wind power projects and 9.35 cents for solar farms in the country. This timeline would see the plant become operational slightly sooner than Vietnam’s state-owned oil and gas group PetroVietnam’s two 750MW combined-cycle gas turbine power plants Mien… Read full this story
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