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US grants 1.4 mln USD for gas-to-power development in southern Vietnam

US grants 1.4 million USD for gas-to-power development in southern Vietnam

Vietnam Electricity (EVN) and the US Trade and Development Agency (USTDA) on May 22 finalised a grant agreement on technical assistance for a liquefied natural gas (LNG) terminal and gas-to-power project in southern Vietnam.
US grants 1.4 million USD for gas-to-power development in southern Vietnam ảnh 1US Ambassador to Vietnam Daniel Kritenbrink and EVN Chairman Duong Quang Thanh (R) signed the grant agreement in Hanoi on May 22 (Photo: www.evn.com.vn)

Hanoi (VNA) – Vietnam Electricity (EVN) and the US Trade and DevelopmentAgency (USTDA) on May 22 finalised a grant agreement on technical assistancefor a liquefied natural gas (LNG) terminal and gas-to-power project in southernVietnam.  

TheUSTDA will provide a non-refundable grant worth more than 1.4 million USD tothe project.

Speakingat the event, US Ambassador to Vietnam Daniel Kritenbrink said one of the toppriorities of the US Government is to support its partner countries, includingVietnam, to realise energy security targets.

EVNChairman Duong Quang Thanh said the technical support project is hoped toprovide general assessments on the market of LNG power generation.

Itis also hoped to evaluate potential locations for the construction of a LNG-fueledpower complex, and produce a feasibility study of the selected location insouthern Vietnam, he said.

Thanhvoiced his expectation that the project will help Vietnam’s power sector addressdifficulties and challenges in the face of the risk of power shortage in thesouthern region in the coming time, as well as contribute to ensuring nationalenergy security.

According to the National Electricity DevelopmentPlan approved by the Government, the national power installation capacity wouldreach 130,000MW in 2030 compared to 47,000MW as currently. To realise the target, Vietnam is advised to seek new powersupply and ensure fuel supply for power plants.

The country’s LNG import demand is estimated to stand between 1-4billion cu.m per year in the 2021-2025 period, and rise to 6-10 billion cu.mper year in the 2026-2035, mainly for power generation.

TheEVN Chairman spoke highly of US experience in the development of LNG-fueled powerfor EVN, saying there is potential for future cooperation between Vietnam andthe US in this field.

Inthe past 10 years, EVN has received technical assistance on informationtechnology, wind power research and development, and most recently on deployingadvanced energy storage technologies from the USDTA.

TheUSTDA has arranged the exchange of delegations to explore technologicalcapacity and cooperation potential in smart power network development and LNGusage in Vietnam.-VNA
VNA
#Vietnam-US #EVN Chairman Duong Quang Thanh #Vietnam Electricity (EVN) #US Trade and Development Agency (USTDA) #grant agreement #gas-to-power project #southern Vietnam #liquefied natural gas (LNG) terminal #national energy security #vietnamplus #Vietnam News Agency United States Vietnam
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