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Exxon Mobil eyes LNG-to-power projects in Vietnam

6/11/2020

Exxon Mobil Corp is exploring the possibility of investing in new projects to develop LNG-to-power plants in Vietnam, the Southeast Asian government said.

Exxon Mobil has long been engaged in the development of the Blue Whale gas field in Vietnam, but no new progress on that has been seen in recent years.

The government said in a statement that Vietnam has huge demand for energy and welcomes Exxon Mobil’s move to invest in the country. It issued the statement after a phone call between Prime Minister Nguyen Xuan Phuc and Irtiza Sayyed, President of ExxonMobil LNG Market Development Inc.

One possible project is for a 4,000-megawatt LNG-to-power plant in the northern port city of Haiphong, the government said, adding that the plant could start generating power some time between 2025 and 2030.

It said another project could be for a 3,000-MW LNG power plant in the Mekong Delta province of Long An.

The plants would use LNG imported from the United States or from some other countries, it said, without elaborating.

“Importing LNG from the U.S. will help balance trade between Vietnam and the U.S.,” the statement said. (Reporting by Khanh Vu; Editing by Hugh Lawson)