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GE inks an agreement with EVN Genco3 to develop Vietnam LNG power plant

Vietnamese and US firms sign the deal in the presence of APNSA O’Brien, US Ambassador to Vietnam Daniel J. Kritenbrink, and EXIM Kimberly Reed (Photo: US Embassy in Hanoi)

General Electric signed an MoU with EVN Genco3 to develop an LNG power plant in the southern province of Ba Ria-Vung Tau, as reported by Bloomberg.

The signing between GE and EVN Genco3 took place during an event with President Donald Trump’s National Security Adviser Robert O’Brien in Hanoi on Saturday. O’Brien, in Vietnam for a three-day visit which includes meetings with government officials and a speech to international relations students, said the companies will develop a plant that will provide 3,600MW of power.

GE will be contracted to install gas turbine technology and some other equipment, and will take an equity stake in the project, according to White House officials accompanying O’Brien.

“GE will look to supply gas turbines and associated equipment and services for the project estimated at more than $1 billion over the lifetime of the project,” a company spokesperson said.

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

If the Ba Ria-Vung Tau province approves the project, the consortium will start the first phase with a goal of being operational by 2025, officials said. The project will also involve Pacific Corporation, Vietnam’s Power Engineering Consulting JSC 2 (PECC2), as well as Mitsubishi Corporation’s local unit.

VIR