Japan’s LNG trading giant Jera has signed a cooperation deal with Vietnam’s Sovico Group after it recently formed a unit in Hanoi to work on developing LNG-to-power projects in the country.
Under the cooperation deal, the two firms would work on supplying LNG to power projects in Vietnam, according to a statement by Sovico.
Jera and Soivco would also look to develop an LNG-to-power project in the country, it said.
Besides launching the unit, Jera previously revealed its ambitions to develop LNG-to-power projects in Vietnam.
Back in October 2020, a unit of US energy giant ExxonMobil and Jera announced plans to jointly develop a power plant and LNG import infrastructure in the Vietnamese city of Hai Phong.
Vietnam has still not started importing LNG. However, the country should start receiving LNG this year in order to meet its growing power demand.
PetroVietnam Gas, a unit of state-owned PetroVietnam, said it plans to import the first cargo via its new Thi Vai LNG terminal in 2022.