ExxonMobil intends to pour into LNG projects in Vietnam
ExxonMobil intends to pour into LNG projects in Vietnam
ExxonMobil discussed potential investments with the Vietnamese prime minister
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In a phone call with Prime Minister Nguyen Xuan Phuc yesterday (June 11, 2020), Irtiza Sayyed, president of ExxonMobil LNG Market Development Inc., said that this company wants to seize investment opportunities in the Vietnamese energy sector.
So the US' largest publicly-traded international oil and gas company set eyes on a series of liquefied natural gas (LNG) ports and warehouses and refining and petrochemicals operations in the northern city of Haiphong. The 4,000MW plant could go on stream sometime in 2025-2030.
A series of LNG-fuelled plant in the Mekong Delta province of Long An will be developed at the capacity of 3,000MW. LNG will be sourced from its operation in the US and other countries.
Welcoming the plan of ExxonMobil, Prime Minister Nguyen Xuan Phuc highlighted that Vietnam is one of the countries that released COVID-19 control measures at an early stage and is now looking to turn its lead into breakthrough development.
Vietnam's energy demand is large – and is constantly mounting. Besides, importing LNG from the US will contribute to balancing the trade between Vietnam and the US, according to the Vietnamese government.
