PetroVietnam Power inks deal with banks for two LNG plants

PetroVietnam Power said it has signed a deal with two local banks to help arrange capital for its planned LNG-powered plants.

The state-run firm appointed a consortium of Techcombank and Military Bank to arrange syndicated loans worth $1.4 billion, according to a PetroVietnam Power statement on Tuesday.

The funds would go for the construction of Nhon Trach 3 and 4 plants with a total capacity of 1,500 megawatt (MW), PetroVietnam Power, a unit of PetroVietnam, said.

PetroVietnam Power plans to launch commercial operations at the two LNG-powered plants in the southern province of Dong Nai by 2024.

Several players, including Delta Offshore, are planning to build LNG-to-power projects in Vietnam in order to meet the country’s growing power demand.

Russia’s Novatek also said it had established an office in Hanoi as it looks to supply LNG to Vietnam.

PetroVietnam Gas has also recently signed a deal with US energy firm AES to build the Son My LNG import terminal in Vietnam.

The government previously said that Vietnam would start importing LNG in 2022.

Most Popular

BGN delivers its first LNG cargo to Germany, secures Egypt deal

Switzerland-based energy trader BGN has completed its first LNG delivery to Germany, while simultaneously securing a deal to supply Egypt with LNG.

Samsung Heavy wins contract for Eni’s Coral Norte FLNG

South Korean shipbuilder Samsung Heavy has secured a preliminary contract for Eni's second FLNG project in Mozambique, Coral Norte (Coral North), according to shipbuilding sources.

DET says Stade FSRU to be deployed in Jordan

State-owned German LNG terminal operator DET has sub-chartered the 2021-built 174,000-cbm FSRU, Energos Force, for deployment in Jordan, as it works on the next steps for the delayed Stade LNG import facility in Germany.

More News Like This

PetroVietnam Power says second LNG power plant connected to grid

PetroVietnam Power's Nhon Trach 4 LNG power plant was connected to the national grid on June 27.

PV Gas D, BSR ink LNG MoU

PetroVietnam Low Pressure Gas Distribution (PV Gas D) and Binh Son Refining and Petrochemical (BSR) have signed a memorandum of understanding on LNG supplies.

Russian LNG production drops in May

Russian liquefied natural gas (LNG) production continued to decrease in May compared to last year, according to the Russian statistics agency Rosstat.

PetroVietnam Power fires up Nhon Trach 4 LNG power plant

PetroVietnam Power, a unit of state-owned PetroVietnam, has recently fired up its Nhon Trach 4 LNG power plant.