return icon Vietnamnet.vn

Vietnam's LNG market attracts investors

Investors are eyeing the Vietnamese liquefied natural gas (LNG) market since environmental protection has become a major factor in energy development in the country, experts have said.

 

 

LNG projects in Viet Nam are attractive to investors. — Photo of www.nangluongvietnam.vn

 

In a report on its website, EVNGenco3 said using and developing LNG had been a solution for the energy sector.

It said that since the mid-1990s, people have been moving towards more sustainable, cleaner and less polluting fuels after seeing the impact of climate change on their daily lives.

As the cleanest fossil fuel, LNG is popular in many countries around the world and is considered a fuel of the future.

In Viet Nam, the Government has been adopting policies to develop LNG including infrastructure to import and generate power from the fuel.

To foster energy transition, it has been soliciting investment and managed to attract many investors from Japan and the US.

In December, Japan Petroleum Exploration Company Limited bought stakes in ITECO JSC, which plans an LNG project at the South Dinh Vu Industrial Park in Hai Phong City.

The supply of natural gas in the north is declining and there are fears there may be no supply in future, and the tie-up between JAPEX and ITECO is expected to mitigate the problem.

Their business model is to import LNG and market, store and distribute it both by pipeline and truck.

Expected for the fourth quarter of 2024 is 50,000 cubic metres of storage tanks, 10 truck loading stations, a vaporiser with a loading capacity of 70 cubic metres per hour, and a wharf to receive ships delivering up to 45,000 cubic metres of the gas.

Mathew Tan, vice chairman of JAPEX, said like in other markets there was competition in Viet Nam too, but enterprises could focus on different market segments.

Typically, for customers in the industrial sector who want to use clean energy, green energy, renewable energy, and hydrogen, LNG is one of their top priorities, he said.

In the long run, JAPEX and ITECO aim to introduce a variety of clean fuel solutions and seek opportunities in new projects, he added.

Source: VNS

Vietnam’s power development plan to boost LNG sector

Vietnam’s power development plan to boost LNG sector

The outlook for Vietnam’s emerging liquefied natural gas (LNG) sector remains promising as the country’s need for the product is large to serve its power development plan, according to Fitch Solutions.

Japanese firm strikes deal to join Vietnam’s LNG market

Japanese firm strikes deal to join Vietnam’s LNG market

The Japan Petroleum Exploration Co. Ltd. (JAPEX) and Vietnam’s ITECO JSC have freshly signed a share purchase agreement.

Work on a series of key projects worth over $12bil. starts in Quang Ninh

Work on a series of key projects worth over $12bil. starts in Quang Ninh

Groundbreaking ceremonies for four key projects were launched on October 24 in Quang Ninh Province, marking the reopening of one of the pillar economies in Vietnam after a long break due to COVID-19.

MORE NEWS

Amid global unrest, VN billionaires incur huge losses

Despite good news about the economy, including high growth rate and low inflation, stock prices have been sliding all over the globe.

Vietnam needs to expand airport network to relieve pressure on infrastructure

Vietnam ranks No.1 on the list of the 25 countries with the fastest post-pandemic recovery of the domestic aviation market.

Binh Duong lures foreign investors with special care

The southern province of Binh Duong has taken the lead for foreign direct investment (FDI) attraction thanks to its methods of taking care of investors.

Securities under pressure from external risks

Although the US Federal Reserve (FED) raised the interest rate in the hope of reducing inflationary pressure, it has come as a shock to see a rise in the core US inflation data, despite falling oil prices.

Unemployment rate falls, workers' incomes increase

According to the General Statistics Office's Report, the labor and employment situation in the third quarter of 2022 continued to recover.

The most expensive birds in Vietnam

Red-whiskered bulbs (Pycnonotus jocosus) with original colors are priced at VND500 million and tiny chickens with original colors sell for thousands of USD.

Drinks from dracontomelon: A popular heat-relieving drink in Hanoi

Sweet drinks made from ‘sau’, a fruit which is known scientifically as Dracontomelon, are a popular heat-relieving drink in Hanoi during the hot summer.

1,000 authors with doctoral degree or higher compiled textbooks for new academic year

As many as 1,574 authorities participated in compiling textbooks for six grades in accordance with the new general education program issued in 2018.

Expectations positive for growth trajectory

The Vietnamese economy has been gradually bouncing back thanks to the government’s major efforts to curb the pandemic and remove obstructions to progress for enterprises.

Law on Pharmacy needs to be amended

The lack of medicine at public hospitals has caused concern among the public. The Prime Minister has instructed the Ministry of Finance (MOF) and relevant ministries to find solutions to resolve the problem.

FIEs seek streamlined workforce policy

The human resources of Vietnam are improving to meet the demand of foreign-invested enterprises. However, they may require stronger policies on visas to enhance performance and transfer high technologies to Vietnam

US investors display confidence in Vietnam

Vietnam and the United States are seeking ways to increase their investment and trade ties, with the latter pledging to support the latter in education, training, and the energy transition.

Entrepreneurs blaze a trail in the city

Die-hard entrepreneurs are re-inventing themselves to solve business problems and find their niches in Ho Chi Minh City.

VN ranks 48th in Global Innovation Index 2022

Vietnam ranked 48th among the 132 economies featured in the Global Innovation Index 2022 (GII 2022).

Outstanding policies take effect in October 2022

A string of new policies on higher vehicle registration fee, termination of compulsory unemployment insurance premium, electronic identification and authentication and cybersecurity come into effect in October 2022.
back_to_top