PM welcomes energy giant Exxon Mobil’s investment in Viet Nam

Friday, Jun 12, 2020 13:20

Prime Minister Nguyen Xuan Phuc has a phone conversation with president of Exxon Mobile LNG Market Development Inc. Irtiza Sayyed on Thurday. — Photo

Viet Nam welcomed the world’s energy giant Exxon Mobile’s plans of investing in Viet Nam, Prime Minister Nguyen Xuan Phuc told president of Exxon Mobil LNG Market Development Inc Irtiza Sayyed during a phone conversation on Thursday.

He said Viet Nam was among countries that were able to contain the COVID-19 pandemic early and was striving to seize the opportunity for development. During the process, the country had great demand for power, so the Vietnamese Government welcomed Exxon Mobil’s investment in a complex of ports, LNG storage facilities and LNG-fuelled power plants using advanced technology in the northern port city of Hai Phong.

Exxon Mobil was exploring the possibility of investing in new projects to develop LNG-to-power plants in Viet Nam, including a 4,000MW LNG-to-power plant in Hai Phong which could start generating power between 2025 and 2030 and a 3,000MW gas-fired power complex in the Mekong Delta province of Long An.

The PM said the former project would help boost the development of not only Hai Phong but also the entire northern key economic zone.

Regarding the latter, Exxon Mobil would ensure stable LNG supply for the power complex imported from the US and other countries. The import of LNG from the US would contribute to a more harmonious trade balance between Viet Nam and the US, Phuc said.

Sayyed praised Viet Nam for containing the COVID-19 pandemic with effective measures, which he said would create a safe and reliable environment for international investment and trade in the country. — VNS

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