On the afternoon of March 17, in Hanoi, Deputy Minister of Industry and Trade Nguyen Hoang Long had a working session with the delegation of Excelerate Energy Company (USA).
Attending the meeting, on the Vietnamese side were Deputy Minister of Industry and Trade Nguyen Hoang Long and representatives of relevant Departments and Offices of the Ministry.
On the Excelerate Energy side, there were Mr. Derek Wong, Vice President of Excelerate Energy; Mr. Karlman Tham, Director of Development for Asia-Pacific Region, Excelerate Energy Asia Pacific.
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| Working session scene. Photo: Thanh Tuan |
Speaking at the meeting, Deputy Minister Nguyen Hoang Long expressed his joy and welcomed the Excelerate Energy delegation to work at the Ministry of Industry and Trade. The two sides discussed opportunities for cooperation in developing potential liquefied natural gas (LNG) projects in Vietnam.
Mr. Derek Wong, Vice President of Excelerate Energy Company, said that Excelerate Energy is a pioneer and global market leader in floating storage and regasification technology (Floating Storage Regasification Unit - FSRU) with 10 FSRUs in operation, accounting for a market share of over 20%.
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| Deputy Minister of Industry and Trade Nguyen Hoang Long. Photo: Thanh Tuan |
Excelerate Energy is currently the largest provider of floating storage and LNG regasification capacity in Argentina, Bangladesh, Finland and the UAE, among the largest suppliers in Brazil and Pakistan, and operates the largest FSRU in Brazil. FSRU technology has enabled these markets to access LNG quickly and sustainably, contributing to energy security and economic growth.
In Vietnam, Excelerate Energy is cooperating with PetroVietnam and its member units (PTSC, PV GAS) to study the possibility of deploying FSRU in other potential areas, allowing for flexibility in natural gas supply in the context of rapidly declining domestic gas fields.
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| Mr. Derek Wong, Vice President of Excelerate Energy Company. Photo: Thanh Tuan |
Excelerate Energy signed a Strategic Partnership Agreement with PTSC on September 23, 2024, in New York, USA. The ceremony was honored to have the attendance and witness of General Secretary To Lam and other Party and State leaders. With this Strategic Partnership Agreement, PTSC and Excelerate Energy will lay the first bricks for long-term and successful cooperation in developing FSRU projects in Vietnam.
According to the Department of Petroleum and Coal, FSRU is a prominent technology in the storage and regasification of LNG, which has been successfully deployed in many countries around the world. The main advantages of FSRU technology are low investment costs, high flexibility, and the ability to deploy quickly (1-3 years), suitable for countries with LNG import infrastructure in the early stages of development such as Vietnam.
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| At the meeting, the two sides discussed cooperation opportunities to develop potential LNG projects in Vietnam. Photo: Thanh Tuan |
Excelerate Energy is a capable and experienced partner in FSRU deployment. Collaborating with Excelerate Energy will help promote investment and deploy FSRU projects in Vietnam safely and efficiently, contributing to ensuring gas supply security, energy security and promoting the transition to cleaner energy sources.
| Excelerate Energy is an energy company headquartered in Woodlands, Texas, USA, with 15 regional offices and operations in many countries such as UAE, Argentina, Brazil, Bangladesh, Israel, Kuwait, Pakistan, Germany and Finland. |
Source: https://congthuong.vn/thu-truong-nguyen-hoang-long-lam-viec-voi-cong-ty-excelerate-energy-378588.html
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