Page 7 - AsiaElec Week 17 2021

AsiaElec GAS-FIRED GENERATION AsiaElec

Petrovietnam to build LNG-

fired power plant

VIETNAM STATE-OWNED PetroVietnam reportedly 2015, Hanoi’s power targets will require foreign
intends to build a $1.5bn liquefied natural gas gas supplies to be realised.
(LNG) fired thermal power plant (TPP) in the Investment and asset manager VinaCapital
country’s southern province of Ca Mau. announced on March 22 that it would build a
Subsidiary PetroVietnam Power wants to $3bn LNG-to-power plant in Long An Province
begin building the 1,500-MW Ca Mau Power with South Korea’s GS Energy. VinaCapital said
Plant 3, which will be located in Khanh An it aimed to bring the first phase of the 3,000-MW
Commune, in 2022, with the facility slated for facility online by the end of 2025. VinaCapital
commissioning in 2026, local daily VN Express expects to source feedstock from US suppliers.
reported on April 16. The plant will span 26 hec- Commodity trader Gunvor International and
tares (260,000 square metres). US-based Energy Capital Vietnam, meanwhile,
The project joins a growing list of LNG-to- signed a deal in December 2020 for feedstock
power developments that have moved closer supply to an LNG-to-power project in Binh
to realisation in recent months, as the country Thuan Province. The two companies agreed to
looks to replace some of its coal-fired power gen- form a joint venture that would trade and ship
eration with LNG. LNG on ECV’s behalf, with long-term supplies
The Ministry of Industry and Trade’s draft to come from Gunvor’s portfolio.
Power Development Plan (PDP) VIII has pro- General Electric (GE), meanwhile, signed an
posed raising the share of gas-fired power capac- MoU with Vietnam’s EVN Genco3 in Novem-
ity from about 14.9% in 2020 to 21% in 2030 and ber 2020 to develop the Long Son LNG-to-
24% in 2045. power project, slated to start up by 2025, in Ba
Given that the country’s power demand Ria-Vung Tau Province. GE will be contracted
increases by an estimated 10% every year and to install the gas turbine technology and certain
domestic gas production has effectively pla- other equipment.™
teaued since peaking at 10.3bn cubic metres in

Philippines approves

LNG-to-power project

PHILIPPINES THE government of the Philippines has Vires is targeting start-up of its project by
approved Vires Energy’s proposed LNG-to- January 2023. Local media have reported that
power project. The Philippine Department the company will use the BW Paris FSRU for the
of Energy (DoE) issued a “notice to proceed” scheme.
(NTP) on April 22, which it said is the first step “The proposed integrated natural gas-fired
for a company seeking to build an LNG terminal power plant and LNG storage and regasification
or other downstream gas project. terminal project of Vires Energy Corporation
Vires will now need to acquire various other will boost the attainment of our vision to develop
regulatory approvals from central and local the Philippines as an LNG hub in the Southeast
government agencies, and will have to submit Asian region,” stated DoE secretary Alfonso
proof of financial closing to the DoE within six Cusi.
months. The government has now approved at least
The proposed project includes a floating six regasification projects for Luzon, the Phil-
storage and regasification unit (FSRU) with a ippines’ most populous island. However, the
capacity of up to 3mn tonnes per year (tpy) off country needs to move quickly to develop new
the coast of Batangas Bay. The regasification LNG import capacity as domestic resources are
facility will be integrated with a 500-MW gas- increasingly depleted.™
fired power plant.

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