US provides US$1.4 million aid for Vietnam’s LNG development

14:28 | 31/05/2019 Industry

The US Trade and Development Agency (USTDA) signed a grand agreement with the Electricity of Vietnam (EVN) on May 22 to provide technical assistance for a liquefied natural gas (LNG) terminal and gas-to-power project in southern Vietnam.

US Ambassador to Vietnam Daniel Kritenbrink and Chairman of EVN Duong Quang Thanh sign the grant agreement - Photo:

The non-refundable aid worth over US$1.4 million is expected to help Vietnam to address the issues of electricity shortages in the South in the future, contributing to ensuring national energy security.

The signing ceremony took place in Hanoi in the presence of US Ambassador to Vietnam Daniel Kritenbrink, USTDA Acting Deputy Director Todd Abrajano, Chairman of EVN Duong Quang Thanh, and EVN CEO Tran Dinh Nhan.

According to the US Ambassador to Vietnam, one of the priorities of the US Government is to provide support for other countries and partners including Vietnam to implement the target of ensuring the world’s energy security.

Chairman of EVN Duong Quang Thanh said that the project is expected to provide Vietnam’s electricity sector and EVN an overall assessment and feasibility study on the LNG market and potential site selection for the building of a gas-to-power plant complex.

US experience in developing new power generation sources using LNG is helpful for EVN and also has potential for cooperation between the two countries in the future, Thanh said.

USTDA Acting Deputy Director Todd Abrajano said that USTDA expects that the cooperation and signing of agreements with EVN will bring about great benefits to both US and Vietnamese enterprises.

Theo NDO