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With a young population of around 93 million, Vietnam is one of the fastest growing economies in Southeast Asia. According to the National Center for Socio-Economic Information and Forecast (NCIF) of Vietnam, its GDP growth will hit the target of 7% in 2018.
To keep the fast economic growth, Vietnam is hungry for power.
In the newly adopted revised Power Development Plan VII, it depicts that Vietnam needs USD 148 billion to increase power generation and develop electricity grid through 2030 to meet the 10-12% annual growth of electricity consumption.
Coal / Gas will provide nearly 70% of the energy supply while renewable energy, especially solar and wind power, hold the largest potential for investment.
The 2nd Vietnam Power Development Summit 2019 (VPDS2019) taking place in Ho Chi Minh City on 07-08 November January is going to bring together around 500 sr. representatives across the energy and power industry to discuss the latest development of Vietnam’s power market, share ideas, experience and innovations with power producers and investors. It offers you the best opportunity to gain the most updated market intelligence and develop local partnerships.
Vietnam is one of the fastest growing economies in Southeast Asia with annual electricity consumption growth by 10-12%.
With projected GDP growth by 7% through 2030, Vietnam needs USD 150 Billion to upgrade power sector to keep its growth on the fastest track.
Gathering around 500 sr. representatives, it is the best opportunity for you to gain the latest market intelligence, share insights, learn practical experience and develop local partnerships with industry peers from Vietnam and the globe.
Generate business leads, enhance brand profiles and demonstrate your proven solutions for this market.
We look forward to welcoming you in Ho Chi Minh City in November.
http://www.vietnampowersummit.com/
Novatek signs MoU for LNG-to-power project in Vietnam
Pao Novatek has announced that the company and the Ninh Thuan Provincial People’s Committee have signed a Memorandum of Understanding (MOU) to develop an integrated energy-generating project with the use of LNG within the Socialist Republic of Vietnam.
The MOU was signed in the presence of Russian Prime Minister, Dmitry Medvedev, and Prime Minister of the Government of Socialist Republic of Vietnam, Nguyen Xuan Phuc.
The energy-generating project provides for the delivery of LNG utilising existing infrastructure as well as developing new infrastructure, including the construction of an LNG regasification terminal and new gas-fired power plants within Vietnam.
Partners of the proposed project include Siemens Aktiengesellschaft, Total Gas & Power Business Services S.A.S and Vietnam A&A Technology Investment Co. Ltd.
“The strong economic growth within Vietnam generates additional demand for energy, which can be sustainably met with the development of an integrated gas generation project.
The building of gas-fired power generation increases the demand for us to provide competitively priced LNG supplies to the country.
This project could be realised in a relatively short period of time with the support of the Ninh Thuan province,” noted Novatek’s Chairman of Management Board Leonid Mikhelson.
www.lngindustry.com/liquid-natural-gas/23052019/novatek-signs-mou-for-lng-to-power-project-in-vietnam/
NOVATEK signs MoU with Petronet LNG
PAO NOVATEK has announced that it has signed a memorandum of understanding (MoU) with Petronet LNG Ltd on future natural gas cooperation.
The MoU was signed during a meeting between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi held at the Eastern Economic Forum in Vladivostok, Russia.
It reportedly envisages delivering LNG supplies from NOVATEK’s portfolio to the Indian market, including natural gas supplies for power generation, as well as investment by Petronet LNG in NOVATEK’s future LNG projects and the joint marketing of LNG as motor fuel in India, including joint investment in developing a network of filling stations and a fleet of LNG-fuelled trucks.
Leonid Mikhelson, NOVATEK's Chairman of the Management Board, said:
“India’s rapid economic growth requires increasing demand for all sources of energy and, primarily, for natural gas as the most environmentally friendly type of fuel. Moreover, the conversion of modal transport to LNG enables India to significantly reduce carbon emissions, thereby contributing to India’s commitment toward reducing its impact on climate change.”
“Our low-cost production from future Arctic LNG projects ensures competitively priced LNG supplies to most regions of the world, and we are confident that our mutually beneficially cooperation with Petronet LNG will promote the supply of affordable clean burning natural gas to the Indian market.”
www.lngindustry.com/regasification/04092019/novatek-signs-mou-with-petronet-lng/
LNGL and DeltaOE agree Vietnam supply deal
Delta Offshore Energy (DeltaOE) and LNG Limited (LNGL) have jointly announced an alliance with the Bac Lieu Provincial Government in Vietnam to deliver an LNG-to-power project for the province.
The DeltaOE led power project includes the construction and operation of an LNG import terminal, 3200 MW combined-cycle power plant and delivery of power generation to the Bac Lieu Province. The integrated project is expected to commence operations in 2023 pending finalisation of anticipated government approvals.
LNGL’s wholly-owned subsidiary, Magnolia LNG LLC, shall deliver 2 million tpy of LNG to DeltaOE pursuant to a supply and purchase agreement (SPA), on a free-on-board (FOB) basis, for a 20-year term with options to extend the term.
DeltaOE shall, in turn, deliver gas to the power plant, generate electricity, and sell its output to the province pursuant to a power purchase agreement (PPA). The SPA and PPA are linked on a back-to-back basis providing an integrated LNG-to-power solution for the province.
Specific terms and conditions of both the SPA and PPA, respectively, have been negotiated in term sheet form and the various contracting parties are currently completing the SPA and PPA contracts for execution.
Routine conditions precedent apply in both the SPA and PPA documents, and the parties shall make reasonable efforts to complete these contracts expeditiously.
“This agreement is a major achievement for the Magnolia LNG project as we progress our global commercial and marketing push toward a final investment decision,” said Greg Vesey, Managing Director and Chief Executive Officer, LNGL. “We are pleased to welcome Delta Offshore Energy, the Government of Vietnam, and the Bac Lieu Provincial Standing Committee to the Magnolia LNG project, as customers that value the advantages Magnolia enjoys. This agreement represents a significant advancement of our long relationships held with DeltaOE, the province, and Vietnamese leadership, including our earlier hosting of the province leadership and DeltaOE at the Magnolia site.”
“Delta Offshore Energy’s Bac Lieu project addresses Vietnam’s need for an LNG import terminal to provide access to growing the LNG industry as a feedstock for electricity generation,” said Bobby Quintos, Engineering Managing Director for DeltaOE.
“Our alliance with LNG Limited will allow the Government of Vietnam to have a stronger relationship with the US market and the long-term stability of the Henry Hub Index, which fits perfectly with the Vietnamese National Power Development Plan.”
www.lngindustry.com/liquid-natural-gas/16092019/lngl-and-deltaoe-agree-vietnam-supply-deal/amp/
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Mike Sicker and Shunichi Kuba, Mitsubishi Heavy Industries America, USA, explain why the application of two-shaft industrial gas turbine technology is ideally suited for large scale mechanical drive applications.
The liquefaction of natural gas has received front and centre attention in today’s global oil and gas market, as oil majors and developers alike rush to fill the looming supply gap which has been forecasted to arrive in the early to mid-2020s. The race to reach final investment decision (FID) requires many complex and critical decisions involving key areas, such as process technology, equipment selections, production volumes and plant configurations, all of which are deeply linked to the owner/operator’s expectation of future market demand and developed economic models, which they hope will ultimately lead them to a successful FID.
From the outset, developers of the next wave of LNG plants will need to choose an economic model that fits their goals and strategy while embracing the uncertainty of shifting contractual changes in offtake agreements and destination restrictions.
Until recently, oil majors and established operators relied primarily on the ‘stranded gas’ or ‘resource-based’ model when developing proven gas reserves, which, as the name indicates, were typically not located near existing pipelines or buying markets. In the stranded gas model, LNG is priced based on the value of the gas at market destination and FID decisions are reached once a substantial number of long-term commitments from buyers are secured.
However, today, with the emergence of abundant US shale gas and a pipeline infrastructure to transport gas from wellhead to shipping port, developers and operators are now able to consider a ‘cost plus’ economic model, which de-links the entire LNG value chain and allows them to focus only on the segment of the value chain which they can control: the actual liquefaction of natural gas.
Regardless of the economic model being considered, the selection of rotating equipment used in the liquefaction process will have a significant impact on the profitability of an LNG plant in terms of overall economies of scale, purchase price, efficiency, power density, complexity, reliability and long-term maintenance costs.
Two-shaft industrial gas turbine technology
The Mitsubishi Hitachi Power Systems’ (MHPS) two-shaft H-100 industrial gas turbine was introduced in the Japanese power generation market in 2010 when the Japanese power providers were seeking a higher efficiency replacement for their aging industrial gas turbine fleet.
Driven by practicality, MHPS took on the challenge of developing a large scale two-shaft gas turbine replacement in order to address the unusual reality of Japan being the only country in the world with two distinct power grids: the eastern side of Japan, which operates on 50 Hz; and the western side, which operates on 60 Hz.
Although small scale two-shaft industrial gas turbines have existed for years, the H-100’s two-shaft design allowed the machine to be deployed in either market: the H-100 (50 Hz) operating at 3000 rpm; and the H-100 (60 Hz) operating at 3600 rpm.
www.lngindustry.com/liquid-natural-gas/16092019/fit-for-purpose/amp/
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