Vietnamese, US investors make plan for LNG project

SGGP
T&T Group and its US partner Gen X Energy on March 5 had a meeting with leaders of Ba Ria – Vung Tau Province to discuss on their plan to invest in a liquefied natural gas (LNG) project with total investment capital of nearly US$6 billion.

The meeting of T&T Group and Gen X Energy with leaders of Ba Ria - Vung Tau Province. (Photo: SGGP)

The meeting of T&T Group and Gen X Energy with leaders of Ba Ria - Vung Tau Province. (Photo: SGGP)

According to Gen X Energy, the LNG Cai Mep Ha Complex, covering an area of around 200 hectares, consists of two specialized terminals which are able to harbor 100,000 DWT ships, LNG storehouse, gasification system and gas transportation system.
The project will be carried out in three stages. The first stage is expected to be finished by 2023, the second by 2026 and the last by 2030. The project’s gasification capacity is 9 million tons per annum; total LNG reserve capacity is 800,000 cubic meters; and total power generation capacity will increase by 6,000 megawatts.
Mr. Nguyen Hong Linh, Secretary of the Provincial Committee of the Party of Ba Ria – Vung Tau Province, highly appreciated the project that T&T Group and Gen X Energy have proposed. This is a large-scale project which applies advanced technology and meets criteria for investment attraction of the province. The province will ask for Prime Minister’s permission and create favorable conditions for T&T Group and Gen X Energy to carry out the project as soon as possible.
T&T Group, formerly T&T Co., Ltd., was founded in 1993. After 25 years, T&T Group has become a multi-industry company, operating in the fields of finance and investment, real estate, agriculture, forestry and aquaculture, transportation infrastructure, port and logistics, industry and trade, mineral, energy and environment, health care, education and sports.
Meanwhile, Gen X Energy, a company backed by Blackstone Energy Partners, is an energy company focused on investing in sustainable energy projects in Asia. The company is seeking opportunities in development and acquisition in the field of imported LNG as well as solar energy, wind farms, hydropower plants, natural gas and coal projects.
Collectively, Gen X Energy has successfully developed, financed, constructed and operated energy and related infrastructure projects in 21 countries, representing over 27,500 MW globally, including over 8,500 MW in Vietnam, the Philippines, Taiwan, India, China, Bangladesh and Sri Lanka.

By Minh Hien – Translated by Thuy Doan

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