Vietnam’s T&T Group and Korean companies Korea Gas Corporation (KOGAS) and SK Group have signed and awarded a Memorandum of Understanding (MoU) to cooperate on developing LNG and hydrogen projects in Vietnam.
Specifically, T&T Group said that, together with KOGAS, it will work on developing LNG gas power projects in Vietnam and converting coal power projects, already in Vietnam’s Power Plan VIII, to gas power.
The two sides are also set to explore opportunities to participate in hydrogen production projects, in line with the orientation and long-term strategy of the Government of Vietnam in the recently approved Power Master Plan VIII.
T&T Group further said the parties will jointly develop projects using LNG refrigeration from LNG terminals in Vietnam and operate LNG cold chain business nationwide.
Do Quang Hien, Chairman of the Strategy Committee of T&T Group, noted: “The cooperation with KOGAS will bring T&T Group valuable resources in terms of experience, technology etc. to implement LNG projects in Vietnam, thereby contributing to ensuring national energy security and providing enough electricity to meet socio-economic development goals.”
According to Choi Yeon Hye, General Director of KOGAS, the cooperation will contribute to the sustainable development of the two countries.
In regard to MoU with SK Group, T&T Group said that its member T&T Energy and SK E&S, an energy company of SK Group, will cooperate to develop LNG terminals and gas power plants in accordance with Vietnam’s development orientation and legal regulations.
Under the agreement, SK E&S will be the unit responsible for finding financial resources to support the project implementation.
T&T Group pointed out that the collaboration with two Korean enterprises not only aims to realize the investment and trade cooperation between the two governments in the field of energy but also aims to contribute to further strengthening the friendly relations between the countries.
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