Gunvor teams up with ECV on Vietnam LNG power project

Trading giant Gunvor has entered into a joint venture with Energy Capital Vietnam to develop an LNG-to-power project in Vietnam.

US-based ECV leads a consortium developing the FSRU-based project in Mui Ke Ga, Binh Thuan Province, in Southeast Vietnam.

Under the new partnership, ECV and Gunvor will form a JV responsible for trading and shipping. In addition, Gunvor will supply LNG to the venture on a long-term basis.

Gunvor’s trading portfolio consists of a significant portion of US-based projects, which will “ensure a fuel supply to the project and the province as a whole.”

The introduction of LNG to the region will initiate a much-needed energy transition and will help cut emissions, the duo said.

The fully private, multi-phase power project will connect via subsea pipeline to an FSRU to import LNG.

The first phase of the project is targeting final investment decision in late 2021 and commercial operational delivery by 2025.

Furthermore, the project will consume about 1.5 mtpa of LNG. Also, there will be room to increase consumption to reflect subsequent development phases and opportunities presented by market conditions.

Most Popular

NextDecade’s Rio Grande LNG secures final FERC approval

The US Federal Energy Regulatory Commission (FERC) has issued its final order for NextDecade's Rio Grande LNG facility and the accompanying pipeline in Texas.

Poland’s Gaz-System revives plan for second Gdansk FSRU

Poland’s state-owned LNG terminal operator Gaz-System has revived its plan to add a second FSRU as part of the LNG import project in Gdansk Bay with a new non-binding call for interest.

Capital sells another LNG carrier for scrap

Greece's Capital Gas has sold another steam liquefied natural gas (LNG) carrier for scrap, according to brokers.

More News Like This

Gunvor says its LNG business was main profit contributor in H1

Geneva-based trader Gunvor said that its LNG business was the main profit contributor in the first half of 2025, which has been "very challenging" due to a backdrop of a generally oversupplied oil market.

Amigo LNG, Gunvor seal 20-year SPA

Amigo LNG, a unit of LNG Alliance, has signed a 20-year sales and purchase agreement with a unit of Geneva-based trader Gunvor to supply the latter with liquefied natural gas from its planned 7.8 mtpa LNG export plant in Mexico.

Argentina’s Enarsa receives five offers for latest LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received five offers for its fourth LNG cargo tender in 2025.

Argentina’s Enarsa gets offers for new LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received six offers for its third LNG cargo tender in 2025.