PetroVietnam, ExxonMobil sign deal on gas generation
HANOI (Reuters) -- State energy group PetroVietnam (PVN) signed an agreement with the Vietnamese unit of US ExxonMobil Corp on Friday to develop the country's biggest gas project for power generation, the state firm said.
The Blue Whale project aims to produce the first gas for power plants by 2023. PVN said the project would contribute nearly $20 billion to the state budget, but it gave no timeframe for that contribution.
Blue Whale is Vietnam's biggest gas project with an estimated 150 billion cubic meters of reserves.
The signing took place during the visit to Vietnam of U.S. Secretary of State John Kerry.
Vietnam is trying to switch to cleaner energy from coal-fired power plants. Annual power demand growth was projected at up to 20%.
Reporting by My Pham; editing by Susan Thomas
- Gasum powers Equinor's platform supply vessel with bio-LNG
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Golar LNG signs EPC deal for $2.2-B MK II FLNG conversion project
Comments