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Vietnam can borrow capital from the United States for developing LNG power thermal plants

Vietnam can borrow capital from the United States for developing LNG power thermal plants - 

At the Conference of the Prime Minister with the Businesses on May 9, 2020 in Hanoi, Mr. Vu Tu Thanh - Deputy Director of the US-ASEAN Business Council informed that the USA has founded an International Financial Development Agency (DFC) with a fund of over $100 billion and more increasing for   supporting the partners of the US businesses. It is a very good opportunity for Vietnam energy businesses to borrow capital to import LNG and energy equipment from USA for developing Combined Cycle Gas Turbine (CCGT) LNG fired plants.

Mr. Vu Tu Thanh also said that at present a number of US businesses are involved in energy projects in Vietnam such as: AES Group has been assigned to develop LNG Son My 2 (Binh Thuan province) with a capacity of 2,200 MW; GE Group is also interested in supplying equipment for traditional power projects and renewable energy projects.

According to updated data, up to now, a total capacity of 50,000 MW of LNG CCGT plants has been proposed to the Vietnamese Government. Among them, a number of the projects have been approved to be added into Power Development Planning VII (adjusted) such as Bac Lieu, Long An I and II power thermal projects with a total capacity of 3000 MW conversed from coal use to LNG. The LNG Long Son and Ca Na power centers also have been approved.

Mr. Thanh also noted LNG CCGT projects, as well as other power plant projects usually have economic lifetime of 20 year so, LNG source also must be ensured for 20-25 year with a market fluctuation but taking into account only current low oil prices to calculate economic and financial effectives for the projects.

Finally, Mr. Thanh committed that the US-ASEAN Business Council will try the best to promote linking the transaction agreements between Vietnamese partners and businesses in US energy sector.

Reporter.

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