Millennium Oil and Gas Corporation (USA) proposed to invest in Vietnam energy sector with a liquefied gas power project in Nam Van Phong area, Khanh Hoa with a total investment of up to 15 billion USD.
After studying, Chairman of Millenium Vietnam Company (a member of Millenium Petroleum Group), if approved, they will invest in this project with a scale of 600ha, total investment capital of 15 billion USD, capacity of the power plant is 9,600MW.
In addition, Millenium Oil and Gas Group will invest in a port system to supply gas to power plants and LNG distribution agents for the whole of Southeast Asia. The location chosen by the investor is in My Giang village, Ninh Phuoc commune or maybe in Ninh Hai ward, Ninh Hoa town.
If the Khanh Hoa Provincial People’s Committee agrees to permit the investment, the project will be guaranteed by the US Government and will work with the Government of Vietnam to implement. The group hopes to turn the LNG terminal in southern Van Phong into the energy hub of Southeast Asia. Because Millenium is a corporation specializing in oil exploitation, it will sell gas directly to consumers without intermediaries, this is an advantage.
According to the Chairman of Khanh Hoa Provincial People’s Committee, the area of investors applying for investment in the power plant and LNG storage is totally consistent with the local development orientation.
It is known that Millenium Petroleum has 35 years of experience in implementing advanced power projects from natural gas, liquefied natural gas, wind, solar, geothermal and waste.
The Group has implemented power projects in the US and countries around the world with a total investment of more than 36 billion USD. At the same time, the group is also the unit that holds many of the world’s leading advanced technologies and techniques, many of which are not available to other businesses.