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13-HAIPHONG_INTERNATIONAL_EXHIBITION_CENTER.jpg Photo: Wikipedia Commons - Hoang Tuan Ang

Vietnam approves ExxonMobil’s plan to build a $5.09bn LNG plant in Hai Phong

Vietnam has given the green light for US-based ExxonMobil to develop a $5.09bn liquefied natural gas (LNG) plant in the port city of Hai Phong, Reuters reported.

The new power generator is expected to go fully operational by 2026.

Vietnam Prime Minister Nguyen Xuan Phuc said that the government welcomed ExxonMobil’s plans to invest in the country’s oil sector.

According to Reuters, in a statement issued last week, the city’s People’s Committee said the power plant would have an initial capacity of 2.25 gigawatts (GW) and that would be expanded to 4.5 GW by 2029-2030. It said the project would also include a terminal with a capacity of 6m tonnes of LNG per year.

The Institute of Energy of Vietnam is drafting a new master power development plan and has compiled a list of 22 LNG power plants with a combined potential capacity of up to 108.5 GW, the first of which will be operational by 2023, said Vietnamese media.

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