The headquarters of Petrolimex in Hanoi (Photo: VNA)Hanoi (VNA) – The Vietnam National Petroleum Group(Petrolimex) is planning to invest in a liquefied natural gas (LNG) project inthe south central province of Khanh Hoa.
Petrolimex Director General Pham Duc Thang saidhis firm has inked a memorandum of understanding with Vietnam Electricity (EVN)to cooperate in clean energy development.
At a shareholders’ meeting in late April,Petrolimex Chairman Pham Van Thanh said the group had asked for theGovernment’s permission to halt the implementation of the Nam Van Phong oilrefinery and petrochemical project in Khanh Hoa province.
He said the reason for the move was the fact Vietnamalready has Dung Quat and Nghi Son oil refineries, which are able to meet 70 –80 percent of the country’s oil and petrol demand. Additionally, incentives foroil refinery projects are no longer as high as in the past. Therefore,Petrolimex and the foreign stakeholder, Japan’s JX company, decided to scrapthe project.
However, the group has also asked for permissionto build a LNG storage warehouse and an electricity centre on land previouslyzoned for the Nam Van Phong project.
Petrolimex said the gas-fueled power centre andLNG warehouse project will be carried out in two phases.
In the first phase from 2021 to 2025, two gasturbine power plants with total capacity of 3,000 MW and a warehouse able tostore 180,000 cub.m. of LNG will be built. Two other gas turbine power plantswill be constructed in the second phase.-VNA
VNA
