US grants 1.4 million USD for gas-to-power development in southern Vietnam

24/05/2019 15:12:14 - views: 120

Vietnam Electricity (EVN) and the US Trade and Development Agency (USTDA) on May 22 finalised a grant agreement on technical assistance for a liquefied natural gas (LNG) terminal and gas-to-power project in southern Vietnam.  
US Ambassador to Vietnam Daniel Kritenbrink and EVN Chairman Duong Quang Thanh (R) signed the grant agreement in Hanoi on May 22 (Photo: www.evn.com.vn)
 
The USTDA will provide a non-refundable grant worth more than 1.4 million USD to the project.
 
Speaking at the event, US Ambassador to Vietnam Daniel Kritenbrink said one of the top priorities of the US Government is to support its partner countries, including Vietnam, to realise energy security targets.
 
EVN Chairman Duong Quang Thanh said the technical support project is hoped to provide general assessments on the market of LNG power generation.
 
It is also hoped to evaluate potential locations for the construction of a LNG-fueled power complex, and produce a feasibility study of the selected location in southern Vietnam, he said.
 
Thanh voiced his expectation that the project will help Vietnam’s power sector address difficulties and challenges in the face of the risk of power shortage in the southern region in the coming time, as well as contribute to ensuring national energy security.
 
According to the National Electricity Development Plan approved by the Government, the national power installation capacity would reach 130,000MW in 2030 compared to 47,000MW as currently. To realise the target, Vietnam is advised to seek new power supply and ensure fuel supply for power plants.
 
The country’s LNG import demand is estimated to stand between 1-4 billion cu.m per year in the 2021-2025 period, and rise to 6-10 billion cu.m per year in the 2026-2035, mainly for power generation.
 
The EVN Chairman spoke highly of US experience in the development of LNG-fueled power for EVN, saying there is potential for future cooperation between Vietnam and the US in this field.
 
In the past 10 years, EVN has received technical assistance on information technology, wind power research and development, and most recently on deploying advanced energy storage technologies from the USDTA.
 
The USTDA has arranged the exchange of delegations to explore technological capacity and cooperation potential in smart power network development and LNG usage in Vietnam.
VietNamPlus

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