VN, U.S. sign seven deals at the Indo-Pacific Business Forum
21:46 | 28/10/2020

VGP – As many as seven economic and trade deals between Viet Nam and the U.S. were inked on October 28 on the sideline of the Indo-Pacific Business Forum.

Deputy Prime Minister, Foreign Minister Pham Binh Minh and U.S. Ambassador to Viet Nam Daniel Kritenbrink witness the signing of seven economic and trade deals, Ha Noi, October 28, 2020 - Photo: VGP/Hai Minh

A Master Teaming Agreement between Delta Offshore Energy, Bechtel Corporation, General Electric, and McDermott for the development of the Bac Lieu LNG-to-power project for more than US$3 billion of U.S. equipment and services was signed.

The Delta Offshore Energy Bac Lieu LNG-to-power project will bring 3,200 MW of power to Bac Lieu Province, and Viet Nam, to help address the growing clean, reliable and competitive energy needs of the country and its rapidly growing economy. 

The project’s 3200MW of power capacity can generate over 20 TWh of electricity annually and will have regasification capacity of up to 6MTPA.

A joint venture agreement between the AES Corporation and Petro Viet Nam Gas Joint Stock Company for the development of the Son My LNG Import Terminal Project is valued at US$1.4 billion.

This signing comes near the one-year anniversary of the historic agreement AES signed with the Vietnamese government to build the US$1.8-billion Son My 2 combined cycle gas turbine (CCGT) power plant.

The Son My LNG Import Terminal Project will be located in Binh Thuan Province with the total capacity of up to 450 TBtu, to supply gas to newly built gas-fired power plants of about 4,500 MW, other existing gas-fired power plants, and industrial customers.

Together, the 2.2 gigawatts power plant and terminal will play a major role in shaping Viet Nam’s energy future by diversifying the energy mix with imported LNG as well as meeting the country’s increasing demand for sustainable and affordable electricity. 

A Grant Signing between the U.S. Trade and Development Agency (USTDA) and the Viet Nam National Power Transmission Corporation (EVNNPT) is worth US$935,000.

USTDA approved funding for a roadmap that would allow Viet Nam’s National Power Transmission Corporation to modernize its information technology, communications, and power transmission systems and enable future smart grid technology investments.

USTDA’s first roadmap with NPT led to exports of American grid modernization technologies.

ExxonMobil Hai Phong Energy Pte Ltd, Hai Phong People’s Committee and Japan power generation company JERA signed a Memorandum of Understanding (MOU) to work together on a potential integrated LNG to Power project in Hai Phong.

The recently-inked U.S. Grains Council (USGC)-Ministry of Industry and Trade (MOIT) Memorandum of Understanding (MOU) aims to further a strong partnership between the United States and Viet Nam to expand the use and availability of ethanol in Viet Nam. 

This MOU will help Viet Nam meet its fuel needs in an environmentally and economically sustainable manner.

A MOU was signed between General Electric and VinaCapital for the development of the Long An LNG-to-power project.

VinaCapital, in partnership with the Long An local authority, will cooperate to develop the Long An LNG-to-power project, providing 3,000 MW of power to Viet Nam. 

The U.S.- Viet Nam Pork Consortium Memorandum of Understanding was inked between Viet Nam Trade Alliance and the U.S. sellers’ group. 

This agreement, worth US$100 million for year one with a three-year total deal value of up to US$500 million, will establish a commitment for a major Vietnamese processor and retailer to purchase U.S. chilled and frozen pork. 

By Thuy Dung

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