US gives Vietnam a helping hand to develop LNG terminal

Update: 08-12-2018 | 16:30:34

The US Trade and Development Agency looks to support the Electricity of Vietnam’s development of a liquefied natural gas terminal in the southern region.

At the workshop (Photo: dientu@baocongthuong.com.vn)

The US Embassy in Vietnam released the intention of the US Trade and Development Agency (USTDA) as part of a liquefied natural gas (LNG) themed workshop held in Ho Chi Minh City on December 6.

The USTDA is particularly keen to fund a feasibility study that aids the Electricity of Vietnam (EVN) group during the site selection process and its assessment of other core elements of developing the LNG terminal. These include improvements to marine ports, structures to increase storage, regasification, and other related infrastructure. This will enable EVN to utilize LNG as a fuel source for power generation.

US energy firms have reportedly been working alongside local partners to accelerate Vietnam’s LNG imports as well as increasing its gas-fired power generation capacity.

Moderating a panel at the workshop, Ian Steff, US Deputy Assistant Secretary of Commerce for Manufacturing, encouraged project owners to plan and develop Vietnam’s energy infrastructure. He added that they must harness life cycle costing methods that emphasize total cost of owning, operating, and maintaining the infrastructure during its life.

Both tangible inputs, such as feed stock, and intangible outcomes, such as impacts to the environment, must be considered.

Other panel presentations by US firms provided Vietnam’s energy stakeholders with case studies and examples for effectively developing LNG infrastructure, downstream LNG development, as well as structuring and financing projects via the use of public-private partnerships.

“Energy policy and associated decisions are not always easy. Like my country and many others, Vietnam faces important and difficult decisions to make about its energy sector in the near future,” Daniel J Kritenbrink, US Ambassador to Vietnam, noted.

The diplomat added the investment choices Vietnam makes will have an impact across its energy security, its environmental quality and the ability maintain strong economic growth for generations to come.

The workshop took place as part of the US government’s Asia “Enhancing Development and Growth through Energy” or the Asia “EDGE” initiative. In Vietnam, the US government will advance bilateral cooperation under the banner of EDGE Vietnam. This will capitalize on the tremendous opportunity to strengthen the energy security with modern technologies that are clean, smart, and state-of-the-art.

Hong Quan

Share

US gives Vietnam a helping hand to develop LNG terminal

HIGHLIGHTS

MOST READ