[nazrey]

ASEAN 2021
Part 66: Vietnam | JAKS Resources Bhd
JAKS inks MoU with T&T Group for joint development of LNG-to-power project in Vietnam
Shazni Ong September 13, 2021 19:46 pm +08

KUALA LUMPUR (Sept 13): JAKS Resources Bhd has inked a memorandum of understanding (MoU) with T&T Group Joint Stock Co to explore the possibility of collaborating to develop the 1,500MW Quang Ninh 2 liquefied natural gas (LNG)-to-power project in Quang Ninh province, Vietnam.

Under the terms, both JAKS and T&T Group will agree on a common approach in relation to the implementation of the LNG-to-power project, including the location, design, technology and infrastructure involved for the import terminal and the power plant, and the selection of LNG and gas-fired power solutions suppliers.

Separately, T&T Group will be responsible for all legal matters pertaining to the LNG-to-power project. JAKS, on the other hand, shall be the strategic investor and is responsible for the engineering, construction and commission process.

The MoU, which was signed on Sept 11, 2021 at the Embassy of Vietnam in Helsinki, Finland, demonstrates the common vision of both parties to address Vietnam's increasing domestic electricity demand, increasing gas demand for gas-fired generation plus the required importation of LNG into Vietnam, said JAKS chief executive officer Andy Ang Lam Poah in a statement today.

"This is yet another breakthrough for JAKS to tap into the LNG field, which will essentially strengthen the group's power and energy business division in Vietnam. Our first ever entry into the power-energy sector was through the construction of the 1,200-megawatt Hai Duong Power Plant, which has fully commenced commercial operations in January this year.

https://www.theedgemarkets.com/artic...roject-vietnam