Monday, November 19 2018

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PV GAS and Alaska Gasline boost co-operation on LNG

Update: November, 02/2018 - 14:46
Representatives of PV GAS and AGDC sign a co-operation agreement on gas supply. — Photo baochinhphu.vn
Viet Nam News

HÀ NỘI — PV GAS and Alaska Gasline Development Corporation (AGDC) signed a Letter of Intent (LOI) to provide PV Gas with liquefied natural gas (LNG) from the Alaska LNG project.

The LOI was signed during a working visit of a Vietnamese delegation, including representatives of the Ministry of Industry and Trade and PV Gas, to Alaska from October 18 to 24.

The visit of the Vietnamese mission and the agreement mark increased co-operation between the two sides in supplying LNG for import projects at the most competitive prices. This also opens up new opportunities for PV GAS to develop the market and expand co-operation with potential partners in the LNG sector.

AGDC is a subsidiary of Alaska operating in the financing, construction and development of gas projects.

The Alaska LNG project has an estimated investment capital of about US$43 billion. A Memorandum of Understanding between PV GAS and AGDC was signed on November 12, 2017 in the presence of late President Trần Đại Quang and US President Donald Trump.

The project includes a gas processing plant with an average capacity of 3.5 billion cubic feet per day and a natural gas pipeline of approximately 1,300 km for a combined LNG production capacity of 20 million tonnes per year.

At the meeting with Alaskan leaders, Governor Bill Walker introduced the Vietnamese delegation the State’s gas potential.

Governor Walker said the Alaska LNG project had received special support from the local authorities and people.

Deputy Minister of Industry and Trade Đặng Hoàng An informed the Governor about Việt Nam’s socio-economic situation in 2017-18 as well as incentives to attract investment of the Vietnamese Government in energy.

He expected the two sides to create favourable conditions for businesses to seek opportunities and promote co-operation in the future.

At the meeting, the two sides agreed to support each other’s businesses in developing energy projects. They agreed to focus on LNG projects.

In addition, AGDC expressed its desire to invest in LNG infrastructure in Việt Nam to foster closer co-operation between the parties. — VNS

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