Bac Lieu Province 3,200MW LNG To Power Project - Delta Offshore Energy

Bac Lieu Province 3,200MW LNG to Power
Project
Aug 10, 2020 | Press Releases
Our execution focused philosophy has enabled us to bring all the key relevant stakeholders to the table to
ensure a competitive and dynamic process of project development and implementation. Our approach to
innovating solutions is fundamental to our ability to deliver better than our competition. We are never
complacent and always find opportunities to improve our pathway to success.
DOE is currently developing an integrated LNG to power project of 3200MW to Bac Lieu Province, Vietnam.
The concession will be under a 25 year PPA with EVN to deliver clean power to the national grid, in particular
in the South where Power is less developed relative to Central and North Vietnam such that growing
consumption is already greater than installed capacity.
The required transmission interconnection of the project will establish a necessary energy backbone to the
socio-economic development and sustainability of Bac Lieu Province and the surrounding Mekong Delta. The
Mekong Delta, in particular, is most marginalized due to the distance from surplus generation North East of
HCMC. Furthermore, the feasibility of nearby renewable projects will improve with the extended and
increased grid capacity to other provinces South of the national backbone such as Hau Giang, Ca Mau, Soc
Trang.
National and Provincial government leaders gather to support our 3,200MW LNG to Power Project in
Bac Lieu, Vietnam
We are being offered an accelerated timeline for approvals that will substantially reduce the time to FID in
exchange for providing a fully private solution to Vietnam’s strategic energy needs.
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Under the terms of our joint commitment, the Government of Vietnam has committed to delivering all of the
agreements, licensing, permits and other approvals required to make the project bankable within 12 months.
The project has received favorable “administrative fast-track” advantages in order for Vietnam to address the
immediate energy shortages the country faces.
Crucially this includes the Power Purchase Agreement (“PPA”) and the required credit, currency and legal
protections under a BOO-like investment regime.
This project sets an important precedent in the energy infrastructure space in Vietnam. In preference to
the BOT model, the DOEPL lead investment consortium will be the first 100% private Foreign Direct
Investment (“FDI”) in energy infrastructure in Vietnam with the full governing protections of the Law on
Investment including the various treaties with the jurisdictions of our strategic partners as well as the flexibility
to contract, operate and raise capital as a Foreign Invested Enterprise (“FIE”).
For the Project, DOEPL has signed signed a Memorandum of Agreement with GE. They will be our exclusive
turbine supplier and will support our development of the power plant including technical and business
development. Within their product lineup, their latest 9HA.02 high efficiency, air-cooled gas turbine is the
industry leader with a proven track record across locations that match the conditions for this project. /
In consultation with the engineering teams at GE we have elected to utilize the 9HA.02 units. The 4 x 768MW
CCGT configuration will be delivered in a 6-month sequence over 24-month period with the first set delivering
as soon as late 2023 / early 2024, subject to Final Investment Decision (“FID”).
The 9HA.02 features a simplified air-cooled architecture, advanced materials, proven operability and reliability
which in combination have been proven to deliver low life cycle cost per megawatt that is highly competitive
against the market.
For purposes of this project, the economies of scale created by this high power density gas turbine, combined
with its more than 63 percent combined cycle efficiency, enable cost-effective conversion of fuel to electricity
to enable the power plant to generate cost effective and clean electrons to Electricity Vietnam (“EVN”),
Vietnam’s national power utility.
Stena AB Jetty-Less FSU terminal that was specifically designed for the environmental conditions in Bac Lieu
province
The coastal conditions around the Mekong Delta favors the use of a floating LNG terminal concept. The
Project will have an LNG receiving, storage and regasification terminal situated offshore from Bac Lieu
Province.
Together with its world-class multinational technical partners, DOEPL has considered several technologies to
significantly improve the efficiency of the maritime facilities of the project.
/
H.E. Hoang Quoc Vuong – Vice Minister of Ministry of Industry and Trade pictured here with Ian Nguyen –
Managing Director of Delta Offshore Energy, the Bac Lieu Province Department of Planning & Investment and
Vietnam Institute of Energy visiting the Project site on May 26th, 2020.

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