Tokyo Gas, Petrovietnam Gas Sign MOU on LNG Cooperation

Japan’s Tokyo Gas (TG) and Petrovietnam Gas (PV Gas) signed a Memorandum of Understanding (MOU) for cooperation on the development of the LNG value chain in Vietnam.

To sign the MOU, TG and PV Gas held a signing ceremony at PV Gas’s headquarter office in Ho Chi Minh city, Vietnam, and presidents of both companies signed the MOU, Tokyo Gas said in a statement.

Vietnam, which has been exhibiting strong economic growth, is expected to begin importing LNG in 2015.

In addition, studies and plans are underway for a number of possible future LNG receiving terminal projects in response to soaring demand for energy in areas such as electricity and industrial use.

With this as a backdrop, Tokyo Gas Engineering Co. Ltd., a 100% subsidiary of TG, received an order of Front End Engineering Design (FEED) of the very first LNG receiving terminal in Vietnam, from PV Gas.

Taking this opportunity, TG and PV Gas have signed an MOU on cooperative relationship for the development of the LNG value chain in Vietnam being promoted by PV Gas.

Targeted areas include not only the development of infrastructure, such as LNG receiving terminals and pipelines in Vietnam, but also the procurement of LNG, the development of downstream natural gas demand such includes cogeneration and fuel conversion technologies, further considering power generation using natural gas (LNG), which is expected to serve as an effective response to the high growth of electrical demand in Vietnam.

[mappress]
LNG World News Staff, March 5, 2012