Page 11 - AsianOil Week 16 2021
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AsianOil SOUTHEAST ASIA AsianOil
Given that the country’s power demand Commodity trader Gunvor International and
increases by an estimated 10% every year US-based Energy Capital Vietnam, meanwhile,
and domestic gas production has effec- signed a deal in December 2020 for feedstock
tively plateaued since peaking at 10.3bn supply to an LNG-to-power project in Binh
cubic metres in 2015, Hanoi’s power tar- Thuan Province. The two companies agreed to
gets will require foreign gas supplies to be form a joint venture that would trade and ship
realised. LNG on ECV’s behalf, with long-term supplies
Investment and asset manager VinaCapital to come from Gunvor’s portfolio.
announced on March 22 that it would build a General Electric (GE), meanwhile, signed an
$3bn LNG-to-power plant in Long An Prov- MoU with Vietnam’s EVN Genco3 in Novem-
ince with South Korea’s GS Energy. VinaCap- ber 2020 to develop the Long Son LNG-to-
ital said it aimed to bring the first phase of the power project, slated to start up by 2025, in Ba
3,000-MW facility online by the end of 2025. Ria-Vung Tau Province. GE will be contracted
VinaCapital expects to source feedstock from to install the gas turbine technology and certain
US suppliers. other equipment.
EAST ASIA
Iraq chooses Sinopec to
develop Al-Mansouriyah
PROJECTS & IRAQ’S Ministry of Oil (MoO) this week Following insurgency in the surrounding
COMPANIES announced that it had awarded a contract to area, the partners declared force majeure in
China’s Sinopec to partner with state-owned 2014 and had been in negotiations to resume
Midland Oil Co. for the development of the operations. However, the contract was dissolved
Al-Mansouriyah gas and condensate field. last year, with S&P Global Platts reporting at
The field is located in the sub-district of the time that it had been cancelled by the MoO.
Diyala Province, 110 km north-east of Baghdad, However, a senior source within the Ministry
and with estimated reserves of 4.6 trillion cubic told Middle East Oil & Gas (MEOG) that it had
feet (130bn cubic metres) it is a key component been “returned back to Midland Oil Co. due to
in Iraq’s efforts to kick-start the buildout of its the situation in the area”.
gas sector. In either case, Baghdad began soliciting
A contract to develop the field had been bids from IOCs to replace the TPAO consor-
awarded to an international consortium led by tium in October and was said to have held
Turkey’s TPAO in 2010. The contract was held talks with Total over the asset in December.
by TPAO (37.5%), Kuwait Energy Co. (22.5%), While the French super-major signed a mul-
state-owned Korea Gas Corp. (KOGAS, 15%) ti-billion-dollar deal covering infrastructure,
and Baghdad’s representative Midland (25%). associated gas and oil production as well as
This set a plateau production target of 320mn solar energy, the contract for Al-Mansouriyah
cubic feet (9.1mn cubic metres) per day. was awarded to Sinopec following a bidding
Security problems hampered work well round held at the MoO HQ in Baghdad on
before the incursion by IS militants in 2014 and April 20.
an engineering, procurement and construction Gas produced from the field will feed the
(EPC) contract tendered in 2015 on the planned nearby Mansouriyah power station and one in
100 mmcf (2.8 mcm) per day first phase was Baghdad and is seen as easing Iraq’s reliance on
never awarded. Iranian gas and electricity imports.
Week 16 22•April•2021 www. NEWSBASE .com P11
