This story requires a subscription
This includes a single user license.
This was revealed on Tuesday during a meeting in Hanoi by officials from EVN and Novatek, according to an EVN statement.
At the meeting, Novatek introduced its capabilities and experience in the natural gas and LNG sectors and expressed an interest in exploring opportunities in Vietnam’s energy market, EVN said.
The company highlighted its interest in participating in integrated LNG-to-power chains, from fuel supply and LNG infrastructure development to power plant investments.
EVN noted that LNG-fired power is identified as a key energy source in Vietnam’s power development orientation under the revised Power Development Plan VIII.
The two firms also exchanged views on international experience in LNG development, gas-to-power value chain models, and technical requirements for power projects, especially as Vietnam’s power system increasingly requires greater flexibility, stability, and responsiveness to growing electricity demand.
Novatek stated that it would continue discussions with EVN and relevant stakeholders to further explore technical solutions, cooperation models, and opportunities to participate in energy projects aligned with Vietnam’s development strategy, the statement added.
Novatek established Hanoi office in 2021
In 2021, Novatek established a representative office in Hanoi as part of its plans to supply LNG to Vietnam.
Novatek also signed a cooperation agreement with PetroVietnam Power, a unit of PetroVietnam.
The Russian LNG exporter operates the 17.4 mtpa Yamal LNG plant in Sabetta and the Arctic LNG 2 export plant, which was the first to be hit by US and EU sanctions.
Novatek also operates the sanctioned mid-scale LNG plant in Russia’s Baltic Sea port of Vysotsk with a capacity of more than 660,000 tons of LNG per year.
EVN working on LNG-to-power projects
On the other hand, EVN and compatriot Hiep Phuoc Power recently signed a power purchase agreement for the Hiep Phuoc LNG power plant and held the groundbreaking ceremony for the project.
The utility said this is the second PPA in the LNG power sector in Vietnam, following the Nhon Trach 3 & 4 project, operated by PV Power.
EVN recently also awarded an EPC contract to a consortium of PowerChina and Lilama for its Quang Trach II LNG power plant in the province of Quang Binh.
