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Vietnam signs energy agreement with Virginia. The new energy projects between PetroVietnam Gas and AES Corp. were signed for the Son My liquefied natural gas terminal project. The Virginia based energy company AES is located in Arlington Virginia. The agreements were signed in the Presidential Palace in Hanoi. This is critical investment into Vietnam's energy infrastructure and supply. AES will invest its equity portion of approximately $400m.
The construction of a new liquefied natural gas terminal plant with a 2,250MW combined cycle power plant would provide around 5 percent of Vietnam's power generation capacity. AES will also support its continued economic development. OPIC, Overseas Private Investment Corporation is a self-sustaining U.S. Government agency that helps American companies invest in foreign markets. OPIC Established in 1971. Mong Duong II, is a 1200 MW coal fired power plant. The fuel supply agreements are for a 25 years. AES has partnered with OPIC on power generation projects around the world.
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