Foreign investors need a smoother passage before bringing much-needed LNG projects to life in Vietnam. The US-based AES Corporation (AES) will soon begin construction of the Son My 2 combined cycle gas turbine (CCGT) power plant in south-central Binh Thuan province after signing an MoU in November with the Ministry of Industry and Trade. The $1.7-billion LNG-fired plant will operate under a 20-year government contract. “LNG will be the key to Vietnam’s growing energy demand, by offering a cleaner, more reliable, and more affordable energy solution,” Mr. Mark Green, AES Eurasia President, told VET. “This MoU is a significant milestone towards the development of the Son My 2 power plant, which we believe will help transform Vietnam’s energy sector.” Projects underway and to come In addition to Son My 2, AES’s investment plans in gas infrastructure in the country include the $1.4-billion Son My LNG import terminal, which received approval from the government in August, bring its total investment in gas infrastructure to $3.1 billion. The US investor expects the plant and terminal will play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG and will also meet the country’s rising demand for… Read full this story
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