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    Vietnam's Sovico signs LNG pact with Jera

Summary

The companies plan to supply LNG to gas-based power plants in Vietnam.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Security of Supply, Gas to Power, Corporate, Import/Export, Investments, News By Country, Vietnam

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.