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DOE and Consortium Partners Meet with Vietnam's President for Bac Lieu LNG-to-Power Project Approval

Strategic Insights

— 1 min read

On September 22, 2021, a delegation from the United States Department of Energy (DOE) and their consortium partners met with Vietnam's President Nguyen Xuan Phuc to discuss the progress of the Bac Lieu LNG-to-Power project. Despite the challenges posed by the COVID-19 pandemic, the project has made significant progress, with 95% of the necessary legal requirements completed. The President welcomed the project, citing its importance in the Mekong Delta region, and assured the investors that Vietnam's government would create favorable conditions for its success.

Key Takeaways:

  • The Bac Lieu LNG-to-Power project, led by DOE, has completed 95% of all legal requirements, a significant milestone despite the COVID-19 pandemic.
  • The project, with a total investment of over $4 billion and a capacity of over 3,000 MW, is a crucial component of Vietnam's National Power Development Plan 7 revised.
  • President Nguyen Xuan Phuc welcomed the project, emphasizing its importance in the Mekong Delta region and assuring investors that the government would create favorable conditions for its success.
  • The President tasked Minister Nguyen Hong Dien with overseeing power tariff negotiations between the Buyer and Purchaser to ensure the interests of both parties are protected.
  • Co-Founder Bobby Quintos expressed gratitude to the President and Vietnamese government for their support for the project since 2018, while Co-Founder Ian Nguyen sent his thanks from afar, acknowledging the government's efforts to meet with the US-based consortium members and confirm broad-based support for the project.

Statistics:

  • $4 billion: Total investment for the Bac Lieu LNG-to-Power project.
  • 3,000 MW: Capacity of the Bac Lieu LNG-to-Power project.
  • 95%: Percentage of legal requirements completed by the Bai Lieu LNG-to-Power project.
  • September 22, 2021: Date of the meeting between the DOE delegation and Vietnam's President Nguyen Xuan Phuc.

Sources:

  • TTXVN
  • deltaoffshoreenergy.com

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