ExxonMobil Eyes Vietnam LNG Project
ExxonMobil Hai Phong Energy Pte Ltd (EMPHE), Hai Phong People’s Committee and Japan power generation firm JERA have signed a memorandum of understanding to work together on a potential integrated LNG-to-power project, JERA reported Wednesday.
The MOU promotes preliminary market development discussions among ExxonMobil, Hai Phong city government and JERA for a gas-fired power plant and LNG import terminal in the northeastern Vietnam port city.
“Hai Phong is industrializing at a fast pace, with an annual growth rate of over 20 percent,” remarked Nguyen Van Tung, chairman of the Hai Phong People’s Committee. “Hai Phong City is pleased to collaborate with ExxonMobil and JERA to provide a clean energy resource for Vietnam in Hai Phong City.”
According to JERA, the MOU signing aligns with the goals of the Japan U.S. Strategic Energy Partnership (JUSEP). The company explained that JUSEP supports energy access and investments for Vietnam’s sustainable economic development and energy security.
“ExxonMobil is honored to work with JERA and Hai Phong City to explore innovative approaches to bring about competitive LNG-to-power projects in Vietnam,” commented Irtiza Sayyed, EMPHE director. “As a gas industry leader with strategic access to LNG supplies around the world, ExxonMobil is well-positioned to supply cleaner, reliable energy to power Vietnam’s future.”
James H. Vigil, JERA’s managing executive officer and senior operating officer, stated that his company looks forward to applying its LNG value chain expertise in the ExxonMobil-developed project.
“We have more than 50 years of experience as the world’s first utility who introduced LNG to the power industry,” concluded Vigil. “Vietnam is a very important country for JERA, and we would like to contribute to its prosperity through various initiatives, including this important project.”
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