Business

Gas sale heads of agreement signed for O Mon II Thermal Power Project

The Vietnam Oil and Gas Group (Petrovietnam) and a joint venture between the Trading Construction Works Organisation (WTO) and Japan’s Marubeni Corporation signed a gas sale heads of agreement for O Mon II Thermal Power Project on February 22.
Gas sale heads of agreement signed for O Mon II Thermal Power Project ảnh 1Signing ceremony of gas sale heads of agreement (Photo: Petrovietnam)
Hanoi (VNA) – The Vietnam Oil and Gas Group (Petrovietnam) and ajoint venture between the Trading Construction Works Organisation (WTO) and Japan’s MarubeniCorporation signed a gas sale heads of agreement for O Mon II Thermal PowerProject on February 22.

The main content of this heads of agreement is to unify theprinciples and main provisions of the Gas Sale Agreement (GSA) and serve as abasis for the parties to accelerate the investment progress of all projects in Block B gas - power project chain.

Petrovietnam General Director Le Manh Hung said that theentire gas source of Block B, nearly 400km off Can Tho city’s coast, will betransported through a pipeline system to the city’s O Mon district to besupplied to the O Mon I, O Mon II, O Mon III and O Mon IV power plants, which havea combined capacity of about 3,810 MW.

During the stable period, Block B will provide power plantswith about 5.06 billion cubic metres of gas per year to produce about 21.2billion kWh of electricity to meet part of the energy demand for Vietnam’seconomic development in the coming time.

Gas sale heads of agreement signed for O Mon II Thermal Power Project ảnh 2Petrovietnam General Director Le Manh Hung (Photo: Petrovietnam)
In particular, the development of the project will contributesignificantly to the state budget and socio-economic development for the southwesternlocalities, as well as ensuring the national electricity generation demand inthe period after 2026, added Hung.

Nobuta Tetsuhiro, Counsellor of the Japanese Embassy inVietnam, affirmed the O Mon II Thermal Power Plant Project, invested by theWTO-Marubeni joint venture, will be an important transitional energy project, contributingto helping Vietnam fulfill its commitment to bring net emissions to zero by2050, as well as tightening cooperation between Japan and Vietnam.

He went on to say that the Japanese embassy will maintainits support to speed up the progress of the project, which is expected to beput into commercial operation in 2026-2027./.
VNA
#Petrovietnam General Director Le Manh Hung #Petrovietnam #WTO-Marubeni joint venture #Block B #gas sale heads of agreement #O Mon II Thermal Power Project #Vietnam #Vietnamplus #Vietnam News Agency
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