Vietnam supports Gen X Energy to invest in a US$ 6 billion LNG power project


On the morning of November 15, in the Government Office at a meeting with Deputy Prime Minister (DPM) Trinh Dinh Dung, Mr. Scott Kicker – General Director of Gen X Energy Company (USA) said: Gen X Energy is studying the opportunities to invest in LNG power projects with a total investment of about US$ 6 billion.

Speaking at the meeting, DPM Trinh Dinh Dung expressed his support to this proposal of the US counterpart and high appreciated Gen X Energy in interest to invest in LNG power project in Vietnam. DPM Dung Affirmed that Vietnam considers the United States as one of the leading important partners. In recent years, the Vietnam – US Comprehensive Partnership was substantially and effectively developed on the all of bilateral, regional and global levels. In particular, the trade and investment cooperation has become an important foundation and motivation of Vietnam – US relations.

In the energy sector, currently, our countries have signed a Memorandum of Understanding on cooperation, and at the same time we have many mechanisms on collaboration and dialogue for strengthening Vietnam US cooperation.

Deputy Prime Minister Trinh Dinh Dung and Mr. Scott Kicker, General Director of Gen X Energy. Photo VGP /Doan Bac.

DPM Dung added, with the aim to ensure energy security in a sustainable development direction, Vietnam is currently continuing to review the supply and demand balance, structure of power sources in the direction on diversifying power fuels, and promoting renewable energy and LNG power development. Therefore, we ask Gen X Energy to closely cooperate with Vietnamese partners and relevant agencies in preparing the project in accordance with the current regulations.

Mr. Scott Kicker expressed the thanks to DPM for receiving him and affirmed that with the efforts and determination of the Government of Vietnam, the investment and business environment is now quite clear and attractive to big and experienced investors in various sectors, especially energy.

General Director of Gen X Energy also high appreciated the solutions of Vietnamese Government to diversify power fuels and prioritize developing the clean and environmentally friendly power sources for guaranteeing highest target to supply sufficient electricity for the national economy. At the same time, he affirmed that, Gen X Energy would coordinate closely with the partners, agencies and localities in Vietnam for rapidly deploying the project preparation steps.

Previously, in early September 2019, Gen X Energy worked with the leaders of Ba Ria – Vung Tau province with a proposal to invest in a complex of LNG projects including the storage warehouse, transportation system and power plant in Vietnam.

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