KN Energies and INDEL Corporation sign MoU in energy and infrastructure

KN Energies and INDEL Corporation sign MoU in energy and infrastructure

On July 28, Lithuanian terminal operator AB KN Energies and Vietnam-based INDEL Corporation signed an MoU to establish an energy and infrastructure cooperation framework in Vietnam.

Under the MoU, the two sides agreed to establish a framework to explore the development of liquefied natural gas (LNG) infrastructure in Van Phong Economic Zone in Khanh Hoa province and South Phu Yen Economic Zone in Dak Lak province. The two sides plan to jointly conduct research, technical and market assessments, as well as site surveys, to evaluate the feasibility of the ventures.

The agreement brings together KNE’s international experience in LNG and energy infrastructure with INDEL Corporation’s activities across the petroleum, energy, logistics and infrastructure sectors in Vietnam.

Operating LNG infrastructures since 2014, KN Energies has developed a strong international footprint, providing LNG terminal development, commercial and technical advisory, and FSRU-related expertise across Europe, South America and Asia. Through this partnership, the company aims to share its global experience and contribute to the development of future energy infrastructure projects.

Meanwhile, INDEL is studying the development of the Nam Van Phong refinery and petrochemical complex, along with a green hydrogen plant and new fuel cell plant in Khanh Hoa.

Tran Van The, chairman of the Board of Directors of INDEL Group, said, "As a European partner, KN Energies has expressed interest in large-scale energy infrastructure projects in Khanh Hoa. The cooperation is expected to diversify international resources supporting the development of clean energy ventures in the province."

Linas Kilda, representative of KN Energy Group, emphasised that both sides need to quickly develop a concrete action plan following the signing of the MoU to ensure cooperation progress.

The MoU also marks another step in strengthening economic cooperation between Lithuania and Vietnam, fostering new business partnerships and facilitating the exchange of knowledge and expertise between the two countries.

VIR