Oil & Gas

10 Sep 2020

Vietnam's Delta Offshore Energy Seeks Long-Term LNG Supplies

10 Sep 2020  by Reuters   

Delta Offshore Energy has launched a request for proposal (RFP) for a long-term contract to buy liquefied natural gas, the Vietnam headquartered company said on its website.

Delta is seeking 2.5 to 3 million tonnes per annum (mtpa) of LNG over a 25-year period and priced on either a delivered ex-ship (DES) basis or free-on-board (FOB) basis, the company said in a news release.

The cargoes will be delivered to the Offshore LNG regasification facility in Bac Lieu province.

Bidding was opened on Sept. 9 and is expected to close on Sept. 27, the company said.

The company added that its 3.2 gigawatt LNG to power project has been approved by the Vietnamese government.

Construction on the $4 billion project is scheduled to start in 2021 with completion in 2024. It will be the first large-scale LNG project to be developed by a foreign investor.

Vietnam plans to build its first power plants connected to new liquefied natural gas (LNG) import terminals from 2021 to 2025, its trade minister said on Monday, an ambitious move that could make LNG a major energy source for the country.

The Institute of Energy of Vietnam is drafting a new master power development plan and has compiled a list of 22 LNG power plants with a huge combined potential capacity of up to 108.5 gigawatts (GW), the first of which will be operational by 2023.

That would be nearly double the country's total installed generation capacity of 56 GW, and easily more than twice Thailand's capacity of about 46 GW.

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