Vietnam Picks Tokyo Gas and Marubeni for $2bn LNG Power Plant

TOKYO — Japanese utility Tokyo Gas and trading house Marubeni will build a liquefied natural gas-fired power plant in Vietnam, betting on the emerging economy’s growing appetite for an energy source cleaner than coal.

The Japanese companies have signed a memorandum of understanding with Petrovietnam Power — a member of state-run Vietnam Oil and Gas Group, known as Petrovietnam –and a local construction company for the project with an estimated total investment of 200 billion yen ($1.93 billion).

The deal comes as China, Japan and South Korea lead the way in setting goals for cutting greenhouse gases in Asia in the coming decades. Natural gas plays a key role in such plans. Read more…..


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