Millennium Energy Vietnam proposes to develop $15 billion LNG project in Soc Trang
Millennium Energy Vietnam proposes to develop $15 billion LNG project in Soc Trang
Millennium Energy Vietnam Co., Ltd., a member of Millennium Group from the United States, has proposed to develop a liquefied natural gas (LNG) project in Soc Trang province. Once approved, it would be the largest LNG project in the Mekong River Delta.
Millennium Energy Vietnam has proposed another LNG project doubling its capacity in Vietnam (Illustration photo)
|
Having total investment capital of $15 billion, the LNG project has a designed capacity of 9,600MW. The investor needs an area of 200 hectares to develop the project. The construction will be implemented in two phases.
According to Lam Hoang Nghiep, vice chairman of Soc Trang People’s Committee, the province will organise a site visit and then the investor will have to build the detailed planning which the province will submit to the government for approval.
The investor committed to using modern equipment and ensuring safety for the environment.
Previously, in August 2020, Millennium Group from the US also issued plans to develop an LNG project in the South Van Phong area of Ninh Hoa town of Khanh Hoa province.
The investor's ambition includes a 600ha project with a capacity of also 9,600MW.
In addition, it will invest in a dock warehouse system to provide gas to the power plant as well as to distribute LNG in Southeast Asia. This system may be located in either Ninh Phuoc or Ninh Hoa commune.
“Once Khanh Hoa province’s leaders approve, the project will be guaranteed by the US government and we will work with the Vietnamese government to discuss implementation plans. Millenium expects to make the LNG dock warehouse in South Van Phong the energy centre of Southeast Asia,” said Sam Chan, chairman of Millennium Vietnam Group, a member of Millennium Group.
Khanh Hoa’s leaders assigned the Van Phong Economic Zones Management Authority to prepare an agreement with the investor, allowing it to arrive at Nam Van Phong area to study the project.
In June 2020, Millennium also had a working session with leaders of Thanh Hoa People’s Committee to develop a $7 billion LNG and warehouse complex project in Nghi Son LNG centre. The project has a total capacity of 4,800MW with a total investment capital of $5 billion and $2 billion for the warehouse. The first phase is expected to start operation before 2030 and the second phase would be launched in 2030.
