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Delta Offshore Energy developing LNG-to-power project in Vietnam

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LNG Industry,

Delta Offshore Energy PTE Ltd (DOE) has announced that, earlier this year, it signed a memorandum of agreement with the Bac Lieu Party Chairman.

DOE is the lead developer for the only 3000 MW LNG-to-power project in Bac Lieu Province, Vietnam. This agreement solely allows the company and its consortium to build, own and operate the project in Southern Vietnam. According to the statement, DOE represents the interests and participation of more than 10 leading multinational corporations in this endeavor.

In addition to this, through a joint development memorandum of agreement, General Electric Power has recently signed as a key strategic partner within the project. As well as being the exclusive gas turbine supplier for the project, GE is providing both key technical support, as well as assisting in the financial structuring of the project.

Bobby Quintos, DOE Engineering Director, said: “We are delighted to partner with GE. In addition to their turbine technology GE is providing EPC support. Their long list of successful power plant projects in Vietnam ensures certainty and world class industry standards to the project. DOE and Norwegian technology partner 7 Seas LNG & Power, are also developing an innovative and cost-effective LNG import terminal to provide feedstock to the gas plants.”

At full capacity, the project will import approximately US$1 billion of LNG each year. As part of its activities to ensure the security of this supply, Delta Offshore Energy has commenced commercial negotiations for a 20-year LNG supply contract to backstop the electricity power purchase agreement with EVN, Vietnam’s National Utility company.

Spencer White, DOE Project Director, said: “Upon the successful issuance of the Investment Certificate for this project we will commence detailed engineering work and a full feasibility study during early 2019. The first phase alone will represent a US$1 billion investment into the power sector of Vietnam.”

According to the statement, construction of the first 750 MW plant is expected to start by the end of next year, with all four phases complete by 2026.

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