Exxon, Jera Inks Vietnam Power MoU

ExxonMobil and Japanese utility Jera have teamed up to establish a gas-to-power project in Hai Phong city in Vietnam, Jera said on October 28 in a statement.

ExxonMobil, Hai Phong People’s Committee and Jera have signed a memorandum of understanding (MoU) to work together on the project. The parties will jointly study natural gas market development opportunities, including LNG import facilities and gas-fired power plants.

Jera said that ExxonMobil had submitted a master plan application with a project concept for consideration and potential inclusion in Vietnam’s National Power Development Plan (PDP). Hai Phong city has submitted a letter of recommendation to include power demand with potential locations of power plants and LNG import infrastructure. The project submissions are pending government approvals, Jera said.

 “Hai Phong is industrialising at a fast pace, with an annual growth rate of over 20%. Therefore, our annual power consumption is growing and is expected to double between 2020 and 2030,” said Nguyen Van Tung, chairman, Hai Phong People's Committee. “Hai Phong city is pleased to collaborate with ExxonMobil and Jera to provide a clean energy resource for Vietnam in Hai Phong City.”

According to Jera, this MoU is in line with the goals of the Japan-US Strategic Energy Partnership, to support energy access and investments for the sustainable economic development and energy security of Vietnam.