HANOI, Jan 13 (Reuters) - State energy group PetroVietnam (PVN) signed an agreement with the Vietnamese unit of U.S. Exxon Mobil Corp on Friday to develop the country's biggest gas project for power generation, the state firm said.
The Blue Whale project aims to produce the first gas for power plants by 2023. PVN said the project would contribute nearly $20 billion to the state budget, but it gave no timeframe for that contribution.
Blue Whale is Vietnam's biggest gas project with an estimated 150 billion cubic metres of reserves.
The signing took place during the visit to Vietnam of U.S. Secretary of State John Kerry.
Vietnam is trying to switch to cleaner energy from coal-fired power plants. Annual power demand growth was projected at up to 20 percent.
(Reporting by My Pham; editing by Susan Thomas)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you