PV Gas, Honeywell sign partnership agreement
PV Gas, Honeywell sign partnership agreement
PetroVietNam Gas Jsc, a subsidiary of PetroVietnam, on January 13 signed an agreement with American engineering service conglomerate Honeywell to produce liquefied petroleum gas (LPG).
Under the agreement, Honeywell will supply a 250 million cubic feet, or seven million square metre modular gas processing plant and advanced automation systems to PV Gas.
PV Gas will use the modular gas processing plant of Honeywell subsidiary Universal Oil Products (Honeywell UOP) to separate LPG from natural gas at its facility in Ca Mau Province near the southern tip of Viet Nam.
Honeywell Process Solutions (HPS) will also serve as the integrated main automation contractor (I-MAC) and supply integrated controls and safety systems for the facility and terminal. PV Gas's total capital investment in the project is approximately $498 million.
The factory-built modular gas plant will be installed on site and is expected to begin production in 2017.
"As part of the largest oil and gas provider in Viet Nam, PV Gas is making smart investments in infrastructure and innovative technology to meet the country's goal of increasing the utilisation and profitability of natural gas, and this solution from Honeywell will help us achieve that," General Manager of Ca Mau Gas Processing Plant's management board Huynh Quang Hai said.
"Honeywell's modular gas plant and advanced automation controls offer a high recovery liquid efficiency, increasing the production of valuable products from natural gas," he said.
"Honeywell UOP has worked with PetroVietnam for more than 20 years in refining and petrochemicals, and this project will help Viet Nam meet its growing energy demands," Vice-President and General Manager of Honeywell UOP's Gas Processing and Hydrogen business John Gugel said.
"Our modular gas processing plants are a proven solution for high-quality, fast and efficient gas processing anywhere in the world, helping companies generate revenue sooner and more cost-effectively than with stick-built plants."
PV Gas, Viet Nam's primary gas provider, supplies natural gas to help generate nearly 40 per cent of the nation's electricity, and local production accounts for more than 55 per cent of Viet Nam's domestic demand for LPG.
Honeywell is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services, as well as control technologies for buildings, homes and industry. In the third quarter of 2015, it earned US$9.6 billion in revenue.
