General Electric signs $1bln agreement to develop Vietnam LNG power plant

Under the agreement between GE and EVN Genco3 signed during the Vietnam visit of National Security Adviser Robert O'Brien, the US firm will provide gas turbines and associated equipment and services for the project estimated at more than $1 billion over the lifetime of the project.

The plant is expected to provide 3,600 megawatts of power, enhancing Vietnam's energy security and supporting Vietnam's economic development, according to the Government news portal.  

The Long Son LNG power complex will be installed in Ba Ria-Vung Tau Province, an industrial area on the coast near Ho Chi Minh City. GE and EVN Genco3 have been doing feasibility studies for two years to find a location for the LNG-to-power project.

If the province approves the project, the consortium will start the first phase with a goal of being operational by 2025.

This is the fourth gas-fired power project that US firms have participated in Vietnam. All of them are major projects that play significant role in ensuring energy security in the country.

Previously, on October 28^th, Vietnam and the US signed memorandum of understanding for three major gas-fired power projects.

It is a comprehensive cooperation agreement between Delta Offshore Energy, Bechtel Corporation, General Electric and McDermott to develop a gas-fired power project from Bac Lieu liquefied gas, using US equipment and services worth more than $3 billion.

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