Throughout the framework of the Vietnam-Korea Enterprise Discussion board, within the presence of the Minister of Planning and Funding of Vietnam and the Minister of Commerce, Trade and Vitality of Korea, T&T Group and Korean companions just lately signed and awarded a memorandum of understanding to co-operate to develop LNG and hydrogen tasks in Vietnam.
Particularly, T&T Group and Korea Fuel Company (KOGAS) will co-operate to develop LNG gasoline energy tasks in Vietnam, and convert coal energy tasks already within the Energy Plan VIII to gasoline energy. The 2 sides will even discover alternatives to take part in hydrogen manufacturing tasks to fulfill the excessive potential demand of energy tasks in business operation. Different energy tasks can be developed and constructed and function within the close to future, in keeping with the orientation and long-term technique of the Authorities of Vietnam within the just lately permitted Energy Grasp Plan VIII.
T&T Group and KOGAS will collectively develop tasks utilizing LNG refrigeration from LNG terminals in Vietnam and function a LNG chilly chain enterprise nation-wide; they will even interact in different enterprise actions associated to LNG (procurement, importation, transportation, and provide of LNG for energy era and different industrial functions).
Do Quang Hien, Chairman of the Technique Committee of T&T Group, mentioned that the environment friendly exploitation and use of home fossil vitality sources mixed with imports will contribute to realising the objective of step by step decreasing the speed of fossil fuels and concentrate on coal-fired energy, give precedence to home gasoline energy improvement, and develop LNG gasoline energy sources with applicable scale in accordance with the spirit of Energy Planning VIII.
“The co-operation with KOGAS – the unique pure gasoline wholesaler in Korea and the biggest LNG importer on this planet as we speak – will carry T&T Group priceless sources by way of expertise, expertise, and expertise. expertise, finance, and so forth. to implement LNG tasks in Vietnam, thereby contributing to making sure nationwide vitality safety and offering sufficient electrical energy to fulfill socio-economic improvement targets,” mentioned Hien.
Based on Choi Yeon Hye, Basic Director of KOGAS, this co-operation memorandum particularly not solely result in improvement for the 2 firms, but additionally contributes to the sustainable improvement of the 2 international locations.
Beforehand, firstly of 2022, the investor complicated together with T&T Group, KOGAS, KOSPO, and HANWHA (Korea) formally kicked off the technical element of Hai Lang LNG Energy Middle Challenge Section I – 1500 MW. with a complete funding of almost VND 54 000 billion in Quang Tri province. Based on the plan, the challenge will come into business operation in 2026 – 2027.
Additionally inside the framework of the Vietnam-Korea Enterprise Discussion board, T&T Vitality – a member of T&T Group, and SK E&S – an vitality firm of SK Group (Korea), signed a memorandum of understanding on co-operation in LNG energy sector.
Accordingly, T&T Vitality and SK E&S will co-operate to develop LNG terminals and gasoline energy crops in accordance with Vietnam’s improvement orientation and authorized laws. Below the settlement, SK E&S would be the unit liable for discovering monetary sources to help the challenge implementation.
The co-operation of T&T Group with two main Korean enterprises not solely goals to understand the funding and commerce co-operation between the 2 Vietnamese – Korean governments within the subject of vitality; but additionally contribute to additional strengthen the pleasant relations between the 2 international locations.
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/27062023/tt-to-develop-lng-and-hydrogen-projects-with-korean-companies/