US Secretary of State: AES and PetroVietnam Gas will sign a...

US Secretary of State Mike Pompeo said on Wednesday that AES will sign a deal with Petro Vietnam Gas to develop an import port for liquefied natural gas and a $ 2.8 billion power plant in Vietnam.

“Vietnam has given the green light to AES, which is based in Virginia, to go ahead with the project,” Pompeo said in a virtual business forum.

He added that the deal would open the door to import billions of dollars of US liquefied natural gas into Vietnam every year, describing the deal as “a win-win for all parties.”

“American companies are committed to the rule of law and transparency and have very high standards for the quality of their products … I say this because it contrasts sharply with state-backed companies in China,” Pompeo said.

Vietnam is building several power plants using liquefied natural gas, with the first plant operational by 2023, an ambitious move that could result in LNG becoming a major source of energy for its fast-growing economy.

Most of the liquefied gas will be imported from the United States, which wants to narrow its trade deficit with Vietnam, which increased to 44.3 billion dollars in the first nine months of this year from 33.96 billion in the same period of 2019.

Also at Wednesday’s forum, the US Embassy in Hanoi said that Delta Offshore Energy formalized an earlier-announced plan for a $ 3 billion deal with Bechtel, General Electric and McDermott to develop a 3.2 gigawatt LNG-powered power plant in Pak Liu Province.

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