Korea Gas Corporation (KOGAS) and Energy Capital Vietnam (ECV) signed a Memorandum of Understanding (MoU) that establishes the framework for the creation of a privately-funded LNG regasification terminal, storage, gas supply system, as well as 3,200 MW gas-fired power project near Mui Ke Ga, Binh Thuan Province, Vietnam.
The MoU regards the cooperation of KOGAS and ECV, in order to optimize their efforts to meet the important LNG demand growth expected for Vietnam. The target of the MOU covers re;ates to the cooperation and collaboration for the Project.
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Commenting on the MOU, David Lewis, CEO of ECV, highlighted that KOGAS’ presence in the LNG business along with ECV’s position as one of the first LNG movers in Vietnam, enables both companies to use each other’s strengths to bring low-cost LNG to Vietnam and mitigate critical energy security needs.
Mr. Lewis added that this agreement completes a year-long effort with KOGAS.
