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ExxonMobil seeks to invest in US$5.1 billion LNG-to-power complex in Haiphong

The liquified natural gas (LNG) power complex is expected to be put into operation in the 2025-2030 period.

US-based energy group ExxonMobil plans to invest US$5.1 billion in an LNG-based energy complex in the northern city of Haiphong and awaits the city’s support to obtain the central government’s approval.

At the meeting with Secretary of the Haiphong Party Committee Le Van Thanh on September 28, US Ambassador to Vietnam Daniel J.Kritenbrink hoped that the city would soon request the Ministry of Industry and Trade to add this project in the adjusted National Power Development Plan VII.

The LNG-to-power complex with a capacity of 4,000MW is expected to be put into operation in the 2025-2030 period.

The US ambassador affirmed that energy cooperation is an important field in the current period and this partnership will ensure the abundance and stability of energy resources for Vietnam as well as strengthen commercial relations between the two sides.

Previously, on June 11, through a telephone conversation with Irtiza Sayyed, president of ExxonMobil LNG Market Development Inc., Prime Minister Nguyen Xuan Phuc stressed the importance of cooperation with ExxonMobil that would contribute to the Vietnam-US ties.

At the same time, Vietnam welcomed ExxonMobil’s plan to invest in terminals, LNG gas storages and gas-fired power plants with the cutting-edge technology in Haiphong city.

In addition, the US group also plans to invest in a 3,000MW capacity gas-fired power complex in Long An, for which the US power group has committed to providing LNG imported from the US and other countries and thus helping to balance the trade between the US and Vietnam.

ExxonMobil is partnering with PetroVietnam to finalize an agreement for a multi-billion-dollar integrated gas-to-power project in Quang Ngai province.

Besides the US group’s projects, other LNG projects invested by the US companies include the US AES Corp.’s 2.2GW Son My 2 plant, Chan May LNG’s 4GW plant in Thua Thien-Hue province, Millennium Petroleum’s 15GW plants in Thanh Hoa and Khanh Hoa provinces in central Vietnam and Energy Capital Vietnam’s Mui Ke Ga project in Binh Thuan province.

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