PV GAS and Sumitomo Corporation Discuss Collaboration to Develop LNG-to-Power Chain
On August 31, 2023, Mr. Pham Van Phong, PV GAS’ President & CEO had a meeting with the delegation from Sumitomo Corporation (Japan), led by Mr. Fujioka Hiroyuki, General Manager of Power Infrastructure Business Department No.3.
PV GAS meets the delegation from Sumitomo Corporation (Japan)
Sumitomo, originated from Japan, is one of the largest global trading and business investment companies. It possesses extensive experience in Infrastructure, including energy infrastructure in Vietnam.
Sumitomo representatives present how they can collaborate with PV GAS
At the working session, Sumitomo representatives provided an overview of their energy business, with a particular focus on the LNG sector and discussed the collaboration opportunity with PV GAS. They highly appreciated PV GAS' successful commissioning of Thi Vai LNG Terminal, strengthening the company’s role in realizing Vietnam's PDP8 and the energy transition, contributing to net-zero emissions by 2050, as committed by the Government. In light of that, Sumitomo expressed their confidence and desire to invest and develop an LNG-to-Power project chain in Van Phong, Khanh Hoa province, in collaboration with PV GAS, as well as promote the import and LNG business in Vietnam.
Mr. Pham Van Phong, in response to Sumitomo’s proposal, sincerely expressed gratitude for their close collaboration with PV GAS so far. Regarding the LNG-to-Power project chain in Van Phong, PV GAS proposed that both sides engage in deeper and further discussions, especially on the collaborative model.
Discussion on Van Phong LNG-to-Power value chain
At the conclusion of the session, both companies agreed to establish mechanisms to promote cooperation in developing the under-discussed LNG Gas-to-Power project chain. Initially, the priority would be given to explore how the two can utilize their capabilities and meet the needs of parties involved when settling a cooperative relationship.