Chart Industries and Energy Capital Vietnam signed a memorandum of understanding to promote the distribution of liquefied natural gas within Vietnam.
Under the agreement, Chart will be supplying the downstream equipment into ECV’s terminal projects.
Energy Capital Vietnam is a Vietnam-focused project development and asset management company that works with Vietnam’s office of the prime minister and the ministry of industry and trade, the key authoritative body that oversees the energy sector.
With a population of nearly 100 million, Vietnam benefits from both federal and provincial government commitment to cleaner sources of energy. The country’s total LNG demand is estimated to reach 10 million tons per year by 2030 and much is expected to be imported from the United States.
The MOU between Chart and ECV further supports ECV’s collaboration with Korea Gas Corporation (KOGAS) for the development of a privately-funded LNG regasification terminal, storage, gas supply system and 3,200 MW gas-fired power project near Mui Ke Ga, Binh Thuan Province, Vietnam.