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

LNG Canada to send third cargo

Shell-led LNG Canada is expected to soon ship the third cargo of liquefied natural gas from the Kitimat facility, according to shipping data.

Hyundai LNG Shipping sells another carrier for scrap

South Korea's Hyundai LNG Shipping has sold another steam liquefied natural gas (LNG) carrier for scrap, according to brokers.

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

More News Like This

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.

Gunvor’s unit takes Pertamina’s PGN to arbitration over LNG supply dispute

Gunvor Singapore initiated the arbitration processes on September 13, according to PGN. The case was filed with the London Court...

Gunvor in Italian small-scale LNG move

Geneva-based energy trader Gunvor has signed a non-binding deal to buy liquefied natural gas from LNEnergy's planned small-scale LNG...

New LNG carrier joins Celsius fleet

South Korea’s Samsung Heavy Industries has hosted a naming ceremony for one 180,000-cbm LNG carrier it built for Denmark’s...