Vietnam's Sovico signs LNG pact with Jera
Vietnamese investment group Sovico Corporation has signed a cooperation agreement with Japanese joint venture Jera to evaluate the potential of supplying LNG to power projects in Vietnam, it said on May 3.
Sovico and Jera, a joint venture between Japanese utilities Tepco and Chubu Electric, also intend to jointly develop a gas-based power plant project in the southeast Asian country.
Jera in March established its Vietnamese subsidiary, Jera Energy Vietnam Co. The company will be responsible for furthering the LNG-to-power projects in the country that are now under consideration, as well as for exploring new projects, including those in renewable energy.
The southeast Asian nation is promoting gas-fired power as it moves away from coal and oil-based generation.