US ECV Mulls Vietnam Gas-to-Power Project

Dallas-based but Vietnam-focused project development and asset management company Energy Capital Vietnam (ECV) has signed a memorandum of understanding (MoU) with Vietnam’s Bac Lieu province to develop a gas-based power plant and LNG terminal, it said May 9.

"This project demonstrates a commitment by the government of Vietnam to improve its energy security and address critical infrastructure needs," said David Lewis, the founder. "It represents a new dawn for private investment into infrastructure development within the country." This, according to the company, will be the first privately-funded and owned LNG terminal in Vietnam.

The MoU provides the basis for ECV as the exclusive investor and it has engaged with technical consultants and is in discussions with GE and Cheniere. The consortium will accompany the provincial leadership of Bac Lieu to Hanoi within the next few months to formally amend the power development plan for inclusion of this gas project.