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2020-10-05 12:50:00

EXXON LNG INVESTMENT FOR VIETNAM $5 BLN

EXXON LNG INVESTMENT FOR VIETNAM $5 BLN

ENERDATA - 5 Oct 2020 - The People's Committee of Haiphong (Vietnam) has approved ExxonMobil's 6 Mt/year LNG import terminal and 2,250 MW gas-fired power plant projects, which would require an investment of US$5.1bn. The LNG-to-power project, which is scheduled to enter production in 2026-2027, could be expanded to 4.5 GW by 2029-2030. The Haiphong Committee has also approved a similar project worth US$1.9bn including an LNG import terminal and a related 1.6 GW gas-fired power plant, which could be commissioned in phases between 2025 and 2028.

Gas accounts for 15% of Vietnam's installed capacity, with 7.5 GW. According to the Institute of Energy of Vietnam's draft master power development plan, 22 LNG-fired power plants with a combined capacity of up to 108.5 GW could be developed in the country, with the first of which to be commissioned by 2023.

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