HANOI—Vietnam's port city of Haiphong said authorities had approved a $5.09 billion LNG power and terminal project due to be developed by Exxon Mobil Corp. and to start power generation in 2026-2027.
In a statement issued late on Oct. 1, 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 6 million tonnes of LNG per year.
Exxon Mobil did not immediately respond to a request for comment.
In June, Vietnam’s government said it welcomed Exxon Mobil’s move to invest in the country following a phone call between Prime Minister Nguyen Xuan Phuc and Irtiza Sayyed, president of ExxonMobil LNG Market Development Inc.
The government said in a statement at the time that a power project in Haiphong could use LNG imported from the United States or other countries.
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.
The Haiphong committee said on Oct. 1 the city had also approved another $1.9 billion LNG power project with a capacity of 1.6 GW.
It said the first phase of the plant would be operational from 2025 and the entire plant from 2028, but did not specify a potential developer or investor.
Recommended Reading
EOG Ramps Gassy Dorado, Oily Utica, Slows Delaware, Eagle Ford D&C
2025-03-16 - EOG Resources will scale back on Delaware Basin and Eagle Ford drilling and completions in 2025.
Hibernia IV Joins Dawson Dean Wildcatting Alongside EOG, SM, Birch
2025-01-30 - Hibernia IV is among a handful of wildcatters—including EOG Resources, SM Energy and Birch Resources—exploring the Dean sandstone near the Dawson-Martin county line, state records show.
Expand Lands 5.6-Miler in Appalachia in Five Days With One Bit Run
2025-03-11 - Expand Energy reported its Shannon Fields OHI #3H in northern West Virginia was drilled with just one bit run in some 30,000 ft.
Shale Outlook: E&Ps Making More U-Turn Laterals, Problem-Free
2025-01-09 - Of the more than 70 horseshoe wells drilled to date, half came in the first nine months of 2024 as operators found 2-mile, single-section laterals more economic than a pair of 1-mile straight holes.
Formentera Joins EOG in Wildcatting South Texas’ Oily Pearsall Pay
2025-01-22 - Known in the past as a “heartbreak shale,” Formentera Partners is counting on bigger completions and longer laterals to crack the Pearsall code, Managing Partner Bryan Sheffield said. EOG Resources is also exploring the shale.