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Marubeni receives exclusive rights for

Thilawa LNG-to-power project in Myanmar

PROJECTS & MARUBENI, with Sumitomo, Mitsui & Co. and constructing the power plant and associated
COMPANIES and Eden Group, has received permission from facilities.
Myanmar’s Ministry of Electricity and Energy In Myanmar, rapid economic growth has
to go ahead with their LNG-to-power project in caused expectations to rise for overseas IPP
Thilawa, Myanmar. developers to supply power to meet the increas-
The scope of this project includes the build- ing demand for electricity.
ing, owning and operation of a 1,250-MW Demand for electricity is especially high in
LNG-fuelled thermal power plant (TPP) and the Thilawa region, which has a Special Eco-
onshore LNG receiving, storage and regas- nomic Zone where Marubeni also invests.
ification facility of the largest capacity in Marubeni, Sumitomo, Mitsui and Eden Group
Myanmar. will continue to contribute to further economic
It also includes a long-term power purchase development in Myanmar by supplying safe and
agreement (PPA) for the sale of generated stable power through the project.
power to the Electric Power Generation Enter- In the power market, Marubeni has expanded
prise (EPGE), a stated-owned enterprise under its power generation assets to over 12 GW (net)
MOEE, over a 25-year term after commercial in 19 countries, including Japan.
operation commences. Marubeni is committed to contributing to the
The project further includes the procure- development of infrastructure in Asian countries
ment, shipping, storage and regasification of by utilising its extensive experience and knowl-
LNG. Now that the NTP has been received, edge. The company aims to continue to develop
Marubeni with Sumitomo, Mitsui and Eden LNG-to-power projects such as this one, which
Group will proceed with the development of the include the energy chain of LNG procurement,
project by first of all carrying out the detailed shipping, storage and regasification to the pro-
feasibility study followed by procuring financing, duction of electricity.™

PetroVietnam units team up on LNG projects

PROJECTS & STATE-OWNED PetroVietnam Gas (PV Gas),
COMPANIES has teamed up with a number of other PetroVi-
etnam subsidiaries to develop projects that will
take advantage of its first LNG terminal.
PV Gas began work on the Thi Vai LNG,
which is also Vietnam’s first LNG import pro-
ject, in October 2019. In preparation for the
facility’s start-up, slated for 2022, PV Gas has
signed a business co-operation contract (BCC)
with PetroVietnam Power (PV Power) and Pet-
roVietnam Technical Service (PTSC) to develop
LNG-to-power projects.
Under the BCC, which was signed on August
3, the three companies will invest in new gas sup- LNG cold energy can be used to improve the
ply infrastructure to feed the Nhon Trach 1 and project’s economic benefits.
Nhon Trach 1A thermal power plants (TPPs). A PV Gas’ import terminal project will have an
second phase of investment, targeting the Nhon initial capacity of 1mn tonnes per year, with an
Trach 5 power project, is also being considered. estimated price tag of $285mn. A second phase
PV Gas is expected to cover 51% of project of development is expected to expand the termi-
funding, while PTSC and PV Power will cover nal’s capacity to 3mn tpy by 2023.
34% and 15% respectively. Local news outlet VNA quoted PetroViet-
The gas utility has also signed a co-operation nam general director Le Manh Hung as saying
agreement with PetroVietnam Chemical and the agreement would allow the group’s subsid-
Services (PV Chem) that will see the former iaries to consolidate their resources and is part
supply cold energy from the Thi Vai project to of the group’s response to the “twin crises” of the
PV Chem’s industrial gas plants. The two are also coronavirus (COVID-19) pandemic and the oil
to be understood to be looking at other ways that price collapse.™

Week 31 07•August•2020 www. NEWSBASE .com P17