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NOVATEK signs MoU with Ninh Thuan Province in Vietnam

Logistic News - Published on Tue, 28 May 2019

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PAO NOVATEK announced that the Company and the Ninh Thuan Provincial People’s Committee signed a MOU to develop an integrated energy-generating project with the use of liquefied natural gas within the Socialist Republic of Vietnam. The MOU was signed in the presence of Russian Prime Minister, Dmitry Medvedev, and Prime Minister of the Government of Socialist Republic of Vietnam, Nguyen Xuan Phuc. The energy-generating project provides for the delivery of LNG utilizing existing infrastructure as well as developing new infrastructure, including the construction of an LNG regasification terminal and new gas-fired power plants within Vietnam. Partners of the proposed project include Siemens Aktiengesellschaft, Total Gas & Power Business Services SAS and Vietnam A&A Technology Investment Co Ltd.

NOVATEK’s Chairman of Management Board Leonid Mikhelson, said that “The strong economic growth within Vietnam generates additional demand for energy, which can be sustainably met with the development of an integrated gas generation project. The building of gas-fired power generation increases the demand for us to provide competitively priced LNG supplies to the country. This project could be realized in a relatively short period of time with the support of the Ninh Thuan province.”

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Posted By : Rabi Wangkhem on Tue, 28 May 2019
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