Singapore’s Delta Offshore to Build Power Plant in Vietnam
Vietnam’s Bac Lieu province has authorised Singapore’s Delta Offshore Energy to build a 3.2-GW natural gas-fired power plant, Delta said in a statement posted on its website January 21.
The project is to be fully implemented by 2027 with the first phase expected online by 2024. The project will also include a floating terminal and storage tank, a gas recycling station, and a high-pressure gas pipeline.
In September last year, Delta and Australia’s Liquefied Natural Gas Limited (LNGL) jointly announced an alliance with the Bac Lieu provincial government to deliver the project for the province. LNGL's wholly-owned subsidiary, Magnolia LNG, shall deliver 2mn mt/yr of LNG to Delta pursuant to a sale and purchase agreement, on a free-on-board basis for a 20-year term with options to extend the term. Delta shall, in turn, deliver gas to the power plant, generate electricity, and sell its output to the province pursuant to a power purchase agreement.
Delta has also signed a memorandum of agreement with GE for the supply of gas turbines.