The US group Exxon Mobil has accelerated the pace of its investment in a20-billion-USD gas-electricity complex in Vietnam.
A source from the group said that in a couple of weeks, Exxon Mobilwill submit documents such as assessments on gas reserves, siteselection and implementation plan to the Vietnam National Oil and GasGroup (PetroVietnam) and the Ministry of Industry and Trade.
The investment plan was initiated several years ago when Exxon Mobildiscovered gas reserves offshore central Vietnam and decided toexploit it for commercial purposes, serving power generation inVietnam .
The group’s representative expressed hopethat stronger activities will be implemented in the next months topromote investment in this project.
However, thecompany is concerned about electricity and gas prices, he said,expressing its wish to apply market principles for both.
Late last year, the Dau tu (Investment Review) newspaper reported thatExxon Mobil and PetroVietnam planned to build a gas-electricity complexin the central region, using gas products from Lots 117, 118 and 119.
According to the plan, the two sides will use a200-ha plot, half of which will be for the building of a 1,500-MW powerplant. The capacity of the plant will be raised to 4,000-5,000 MW andthere will also be a gas processing facility.
QuangNgai is emerging as a destination for the project. The province hasrecommended four locations some 75-85 km from the lots.
The sites are all in the Ca Voi Xanh (Blue Whale) platform, for whichPetroVietnam and its US counterpart signed a development deal duringPresident Truong Tan Sang’s July 2013 visit to the US .
Quang Ngai has paid special attention to the project, local leaderssaid, adding that the province will offer special incentives to theinvestor.
The province has also suggestedPetroVietnam choose the Dung Quat Economic Zone as the location for theproject, aiming at turning it into the nation’s oil refinery centre.-VNA
A source from the group said that in a couple of weeks, Exxon Mobilwill submit documents such as assessments on gas reserves, siteselection and implementation plan to the Vietnam National Oil and GasGroup (PetroVietnam) and the Ministry of Industry and Trade.
The investment plan was initiated several years ago when Exxon Mobildiscovered gas reserves offshore central Vietnam and decided toexploit it for commercial purposes, serving power generation inVietnam .
The group’s representative expressed hopethat stronger activities will be implemented in the next months topromote investment in this project.
However, thecompany is concerned about electricity and gas prices, he said,expressing its wish to apply market principles for both.
Late last year, the Dau tu (Investment Review) newspaper reported thatExxon Mobil and PetroVietnam planned to build a gas-electricity complexin the central region, using gas products from Lots 117, 118 and 119.
According to the plan, the two sides will use a200-ha plot, half of which will be for the building of a 1,500-MW powerplant. The capacity of the plant will be raised to 4,000-5,000 MW andthere will also be a gas processing facility.
QuangNgai is emerging as a destination for the project. The province hasrecommended four locations some 75-85 km from the lots.
The sites are all in the Ca Voi Xanh (Blue Whale) platform, for whichPetroVietnam and its US counterpart signed a development deal duringPresident Truong Tan Sang’s July 2013 visit to the US .
Quang Ngai has paid special attention to the project, local leaderssaid, adding that the province will offer special incentives to theinvestor.
The province has also suggestedPetroVietnam choose the Dung Quat Economic Zone as the location for theproject, aiming at turning it into the nation’s oil refinery centre.-VNA
