PetroVietnam Gas Consortium Signs $1 Bln PL Deal

Source: The Wall Street Journal 3/11/2010, Location: Asia

State-run PetroVietnam Gas Corp. has signed a $1 billion Business Cooperation Contract with Chevron Corp, MOECO and PTTEP to build and operate a gas pipeline in South Vietnam, a PetroVietnam Gas official said.

The consortium, which signed the deal in Hanoi late Thursday, will build the nearly 400-kilometer pipeline to bring natural gas from Block B offshore to an existing power complex in Can Tho city in the Mekong Delta region for 25 years, said the official.

The official, who declined to be named, didn't provide details on the stakes of each participant in the deal. The pipeline is expected to help transport 18.3 million cubic meters of natural gas a day, or 6.4 billion cubic meters a year, he told Dow Jones Newswires.

Of the pipeline's total length, 246 kilometers will be undersea and 152 kilometers will be onshore, he noted. He added that Chevron has been building a gas production facility in Block B for nearly a decade.


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Related Categories: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 

Related Articles: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 


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