JAPEX Participates in the Northern Vietnam LNG Terminal Project

Source: www.gulfoilandgas.com 1/11/2022, Location: Asia

Japan Petroleum Exploration Co., Ltd. (JAPEX) will participate in the project to construct a liquefied natural gas (LNG) terminal in the northern part of the Socialist Republic of Vietnam (hereinafter "the project"). On December 28, 2021, JAPEX signed a share purchase agreement with ITECO JOINT STOCK COMPANY (hereinafter "ITECO JSC," Head Office: Ho Chi Minh City, Vietnam), a company to promote the project, and will further proceed with the share acquisition procedures.

The project involves the construction of an LNG Terminal in the Nam Dinh Vu Industrial Park in Hai Phong City, Vietnam, and procurement, storage, and supply of LNG. This project, including the Northern Vietnam LNG Terminal, was approved by the government to be added to the Gas Industry Development Master Plan on February 11, 2020.

As the initial development, the construction of a 50,000 m3 LNG storage tank and associated jetty facilities capable of handling a throughput volume of up to 650,000 metric tons of LNG annually is planned, and we are currently working to make a final investment decision (FID) expected in the second half of this year. Besides, an additional LNG storage tank of 30,000 m3 is planned for the latter half of the 2020s as the expansion development.

The facilities to be constructed in the project are planned to commence commercial operation in 2025. In alignment with the project, ITECO JSC is currently moving forward with discussions about LNG procurement as well as its offtake and distribution.

JAPEX will respond to the demand for natural gas and LNG as a lower environmental impact energy source in Japan and abroad, utilizing our capabilities in domestic natural gas supply, such as LNG terminal operations and gas supply chain establishment.


Lithuania >>  5/6/2022 - The PGNiG Group received its first cargo of liquefied natural gas to be delivered to the LNG terminal in Klaipeda, Lithuania. The delivery of almost 6...
Germany >>  5/5/2022 - German LNG Terminal GmbH is welcoming today's announcement by Economic Affairs and Climate Action Minister Robert Habeck on the status of the planning...

Lithuania >>  5/2/2022 - KN (AB „Klaipedos nafta“), the operator of LNG and oil terminals, announces capacity allocation at Klaipeda LNG terminal and invites market participan...
Lithuania >>  4/30/2022 - After successful completion of annual maintenance and repair works, Klaipeda liquefied natural gas (LNG) terminal successfully resumed its operations ...

United States >>  4/26/2022 - New Fortress Energy Inc. (NFE) (together with its affiliates, “NFE”) announced that the U.S. Coast Guard, in coordination with the Maritime Administra...
Lithuania >>  4/25/2022 - On Monday, April 25th, new Management Board of KN, the operator of liquefied natural gas (LNG) and oil terminals, starts the four-year term of office....




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.