Investors of Son My gas-electricity chain projects make debut

Leader of Binh Thuan province presents flowers to representatives of investors (Photo:binhthuan.gov.vn)

Binh Thuan (VNA) – A ceremony to announce investors of the Son My chain of gas and electricity projects using liquefied natural gas (LNG) was held in Phan Thiet city, the south central province of Binh Thuan, on August 4.

The Son My Gas-to-Power projects chain, located in Son My 1 Industrial Park, comprises four components, which are the Son My LNG Terminal, the Son My power centre, a transmission line connecting the Son My power centre to the national grid, and the Son My-Phu My gas pipeline. 

The investors are PV Gas, a subsidiary of state-owned Petrovietnam; the US’s AES; France’s EDF; Japan’s Kyushu and Sojitz; and Vietnam’s Pacific Corporation.

The investment policy for those projects was approved by the Prime Minister in an official document No. 138/TTg-KTN dated January 16, 2013 and the projects were approved in the Ministry of Industry and Trade’s Decision No. 3022/QD-BCT dated May 10, 2013.

The projects are expected to contribute to the formation of a National Energy Center in Binh Thuan province (Photo:binhthuan.gov.vn)

At the event, Binh Thuan province also announced its decision approving investment policy and the investor for the Son My LNG Terminal, which has a total investment of nearly 1.34 billion USD. When completed in 2027, the terminal can handle 3.6 million tonnes of LNG a year. It plays an important role in the implementation of other components in the project chain.

Speaking at the ceremony, Chairman of Binh Thuan People's Committee Doan Anh Dung said the project chain is a step to realise the Politburo's Resolution 55 on orientations for national power development to 2030 with a vision to 2045, adding that it also aligns with the 8th Power Development Plan (PDP8) recently approved by the Prime Minister.

The projects are expected to contribute to the formation of a National Energy Center in Binh Thuan province; create a momentum for developing other projects related to the oil and gas industry such as petroleum storage, hydrogen storage, production of auxiliary equipment for the electricity, gas and energy industries, he said.

In addition, they will help unlock the potential and strengths of Binh Thuan and turning the energy industry into a key industry, serving as the growth engine of the province's economy.

The Chairman requested relevant departments and branches of the province and the People's Committee of Ham Tan district to create the most favourable conditions for investors to implement the projects on schedule, especially the compensation and ground clearance. At the same time, they should closely coordinate with investors to promptly guide and remove difficulties and obstacles in the implementation process, he instructed./.