LNGL, DELTA OFFSHORE ENERGY agree on supply deal to Vietnam

September 16, 2019

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Delta Offshore Energy (DeltaOE) and LNG Limited (LNGL) have jointly announced an alliance with the Bac Lieu Provincial Government in Vietnam to develop an LNG-to-power project for the province. The DeltaOE led power project includes the construction and operation of an LNG import terminal, a 3,200-megawatt combined-cycle power plant and delivery of power generation to the Bac Lieu Province. The integrated project is expected to commence operations in 2023 pending Government approvals. LNGL’s wholly-owned subsidiary, Magnolia LNG, shall deliver 2 MTPA of LNG to DeltaOE pursuant to an SPA, on a FOB basis for a 20-year term with options to extend the term.

Edited from LNG Limited press release.