EVN and JERA look for cooperation in LNG business

EVN and JERA look for cooperation in LNG business - 

On October 18, in Hanoi, Electricity of Vietnam (EVN) and Japan’s Energy for a New Era Company (JERA) signed a Memorandum of Understanding (MOU), as a basis for the two sides to exchange information and seek potential opportunities for cooperation in Liquid Natural Gas (LNG) business.

EVN Deputy General Director Nguyen Tai Anh and JERA Deputy General Director Yukio Kani sign the MOU.

Speaking at the ceremony, EVN Deputy General Director Nguyen Tai Anh said, at present, the power system of Vietnam has reached a total installed capacity of more than 50,000 MW and coming time will continue development with a rate of more than 10% per year to meet the economic growth of the country.

According to the Power Development Planning VII (PDP VII revised), to reach a total capacity of 130,000 MW by 2030, power system of Vietnam needs to be supplemented by the new power plants with diversifying and safely supplying primary fuels. So developing power plants LNG fired is an indispensable option for Vietnam's power system and EVN.

Japan is one of the countries with solid foundation of and leading in the gas - electricity industry. It is also the largest LNG importer in the world with about 68% of imported LNG used for the power generation. In particular, JERA is the largest buyer of LNG and it now manages and operates LNG receiving ports, LNG fired power plants with more than 50 years of experience.

On the basis of EVN-JERA MOU the two sides will be ready to cooperate one with other, and share, exchange information to support EVN in accessing and bringing LNG fuel for power production and business in other sectors.

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