PAO NOVATEK and Ninh Thuan Provincial People’s Committee signed a Memorandum of Understanding (MOU) for the creation of an integrated liquified natural gas (LNG) energy project in Vietnam. The Russian Prime Minister and the Vietnamese Prime Minister were both present during the signing.
Several companies will be involved in the integration project, including Vietnam A&A Technology Investment Co. Ltd, Siemens Aktiengesellschaft and Total Gas & Power Business Services S.A.S.
Leonid Mikhelson, NOVATEK’s Chairman of the Management Board commented, “The strong economic growth within Vietnam generates additional demand for energy, which can be sustainably met with the development of an integrated gas generation project. The building of gas-fired power generation increases the demand for us to provide competitively priced LNG supplies to the country. This project could be realized in a relatively short period of time with the support of the Ninh Thuan province.”
The project will include the use of existing infrastructure and construction of new components to deliver LNG. Specifically, the new construction will include gas-fired power plants and an LNG regasification facility.
