LNGL, DELTA OFFSHORE ENERGY agree on supply deal to Vietnam
September 16, 2019
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.