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ExxonMobil and JERA sign MOU for Vietnam project

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ExxonMobil and JERA have signed a memorandum of understanding (MOU) to promote preliminary market development discussions for their proposed project in Hai Phong, Vietnam, including a power plant and an LNG import terminal.

ExxonMobil Hai Phong Energy Pte Ltd, the Hai Phong People’s Committee and the Japanese power generation company JERA have signed an MOU to work together on a potential integrated ‘LNG-to-power’ project in Hai Phong.

ExxonMobil, the Hai Phong city government and JERA have agreed to expand on their strong cooperation and exchange of expertise to jointly study natural gas market development opportunities, including LNG import facilities and gas-fired power plants.

ExxonMobil has submitted an application with a project concept for consideration and potential inclusion in Vietnam’s National Power Development Plan (PDP). The Hai Phong city government has submitted a letter of recommendation to include power demand with potential locations of power plants and LNG import infrastructure. The project submissions are pending government approvals.

LNG-fuelled power in Hai Phong will provide a more environmentally friendly alternative to the currently proposed coal projects in the master plan.

“Hai Phong is industrialising at a fast pace, with an annual growth rate of over 20%. Therefore, our annual power consumption is growing and is expected to double between 2020 and 2030,” said 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.”

“ExxonMobil is honoured to work with JERA and Hai Phong city to explore innovative approaches to bring about competitive LNG-to-power projects in Vietnam,” said ExxonMobil Hai Phong Energy Director Irtiza Sayyed. “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, said: “JERA is extremely pleased to participate in the Hai Phong project being developed by ExxonMobil and we are eager to utilise our expertise in the entire LNG value chain for successful project implementation.

“Vietnam is a very important country for JERA, and we would like to contribute to its prosperity through various initiatives, including this important project.”

The signing of the MOU is in line with the goals of the Japan US Strategic Energy Partnership (JUSEP) to support energy access and investments for the sustainable economic development and energy security of Vietnam.

Read the article online at: https://www.tanksterminals.com/terminals/28102020/exxonmobil-and-jera-sign-mou-for-vietnam-project/

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