Russia’s Novatek to Develop LNG Regasification Terminal in Vietnam

Russian gas company Novatek has signed a Memorandum of Understanding with Vietnam’s Ninh Thuan Provincial People’s Committee for the development of an LNG regasification terminal for the country’s integrated energy-generating project.

The energy-generating project provides for the delivery of LNG utilizing existing infrastructure as well as developing new infrastructure, including the construction of the LNG regasification terminal and new gas-fired power plants within Vietnam.

Partners of the proposed project include Siemens, Total Gas & Power Business Services, and Vietnam A&A Technology Investment.

“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,” Leonid Mikhelson, Novatek’s chairman of management board, commented.

“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.”