Quiz f gas

MoU inked for liquefied natural gas-fired power project in Bac Lieu

October 13, 2020 by en.vietnamplus.vn

At the signing ceremony (Photo: VNA)

Bac Lieu (VNA) – A memorandum of understanding ( MoU ) on the building of a 3,200MW liquefied natural gas-fired power plant in the Mekong Delta province of Bac Lieu was signed between representatives of the provincial People’s Committee and Singapore’s Delta Offshore Energy Pte.Ltd (DOE), at a ceremony in the locality on October 12.

According to the MOU, the signatories are committed to coordinate with central and local management agencies in completing the remaining tasks in developing the projects in 2020 on schedule.

Official negotiations on a 25-year power purchase agreement between DOE and the Electricity of Vietnam ( EVN ) will start immediately after the event. The agreement is expected to be inked by the end of this year.

The technical design is scheduled to be completed by the end of 2020, enabling the project’s construction to begin in 2021. The first turbine of the plant is hoped to become commercially operational in 2024.

The project, worth approximately 4 billion USD, is the biggest foreign direct investment (FDI) projects in the Mekong Delta region. It is expected to create thousands of jobs and contribute more than 3 trillion VND (129.6 million USD) per year to the State budget./.

VNA

Gas prices fall

April 1, 2021 by bizhub.vn

Staff from a gas sales agent in HCM City’s District 3 delivers gas products to local customers. — VNA/VNS Photo

Domestic gas prices fell by VND20,000 (nearly US$1) per 12kg canister on Thursday after many consecutive months of hiking.

The retail price of some gas brands will not exceed VND403,000 per 12kg canister this month.

The reason is the world gas price delivered under the contract price (CP) in April, which has just been announced, decreased compared to the previous month.

Domestic gas is influenced by the world gas price as up to 60 per cent of domestic gas is imported.

The import contract price in April was pegged at $545 per tonne as of March 31, down $65 per tonne compared to the gas price last month.

This is the first time gas prices have dropped this year. Previously, the price rose three months in a row from the beginning of the year.

The current gas price is still higher than that at the beginning of the year VND30,000 a 12kg canister.

The gas price at this time is still high and is mainly attributed to the increase in world gas prices and rising sea freight costs. — VNS

$1.5 billion Kenh Ga-Van Trinh eco-tourism project in Ninh Binh is approved

February 20, 2021 by www.vir.com.vn

the 15 billion kenh ga van trinh eco tourism in ninh binh is approved

Kenh Ga-Van Trinh eco-tourism complex will unlock the tourism potential of Ninh Binh province

The total planned area for Kenh Ga-Van Trinh eco-tourism project is 1,984 hectare, spreading across Lac Van, Gia Tuong, Duc Long, and Thuong Hoa communes in Nho Quan district and Gia Thinh and Gia Lac communes in Gia Vien district.

The eco-tourism area will be divided into six different zones, including a northeastern farm area and a western sports resort complex bordering Hoang Long River. There will also be a lake-bed area created by Hoang Long River and the nearby mountain; lakeside resorts located in the east and southeast foothills; the water park in the north of Hoang Long River; and a southern sports resort complex bordering the dyke of Hoang Long River.

Out of the total of 1,984ha, 315ha will be served for a sports-real estate complex; nearly 360ha for high-tech farmland; more than 138ha for residential land (especially for healthcare, villas in resort complexes, and lakeside villas). The total estimated investment is roughly around $1-1.5 billion.

This eco-tourism project is expected to be the most significant milestone in the tourism development of Ninh Binh province, awakening the region’s potential and attracting more investment.

Ninh Binh province has just assigned the Department of Construction to direct Kenh Ga JSC to complete the planning documents according to the approved decision.

At the meeting in early November 2020, Ninh Binh Provincial People’s Committee Chairman Dinh Van Dien said that the Kenh Ga-Van Trinh eco-tourism project is of utmost importance to promoting the development of services, tourism, and socioeconomic development of this locality.

By Lam Tien

Vietnam aims to reduce greenhouse gas emissions in rice sector

April 3, 2021 by vietnamnet.vn

Agencies in Vietnam and international partners have been working together to seek effective measures to reduce the emission of greenhouse gases in rice production in the country.

Vietnam aims to reduce greenhouse gas emissions in rice sector

Farmers harvest rice in the Mekong River Delta region in Vietnam. — VNA/VNS Photo

The Ministry of Agriculture and Rural Development last week held the first workshop on the implementation of Vietnam’s Nationally Determined Contribution (NDC) in the rice sector.

Aiming to set priorities for NDC implementation in rice production, the workshop highlighted different NDC scenarios to reduce greenhouse gas emissions while gaining economic, social, and environmental benefits sustainably.

The workshop was organised in collaboration with the International Rice Research Institute (IRRI), the Climate Technology Center and Network (CTCN) and the Climate and Clean Air Coalition (CCAC).

Representatives from the ministries and agencies involved in the planning and implementation of Vietnam’s NDC, their partners and enterprises joined the workshop.

The rice sector plays an important role in agriculture and rural development, ensuring national food security, social security and affecting the livelihoods of many farmers. In Vietnam, the rice sector has advantages in ecological conditions and it is associated with the country’s cultural values and heritages of a long-standing wet rice civilisation.

However, the rice sector in Vietnam is facing challenges relating to low efficiency, resource intensiveness, environmental pollution and climate change.

According to the agriculture ministry, a project on restructuring the rice sector during the 2025-2030 period was approved early this year, and is expected to increase efficiency and ensure sustainable development for the industry.

Under the project, Vietnam would implement measures to form and increase the efficiency of rice value chains, adapt and mitigate climate changes’ impacts, protect the environment, increase farmers’ income and consumers’ interests as well as export high-quality rice.

Vietnam submitted an updated Nationally NDC in September 2020, increasing its commitment target level with high expectations for contributions from the agricultural sector.

IRRI had developed and analysed three scenarios for NDC implementation in the rice sector through changes in farming practices including the Alternate Wetting and Drying technology (AWD) or the Mid-season Drainage technique in the Red River and the Mekong River Deltas.

According to IRRI, the scenarios showed significant benefits of these technical packages, in particularly the reduction of GHG emissions, economic benefit for farmers and health and environmental benefits.

IRRI, CCAC, CTCN, UNIQUE Landuse – a German consulting firm and the Research Programme on Climate Change, Agriculture and Food Security developed a toolkit to support Vietnam in making its NCD implementation plan.

These tools are: MapAWD – a mapping tool to identify suitable rice area for AWD application, SECTOR – a GHG emissions calculator specific for rice, and COMPARE – a cost-benefit analysis tool for mitigation options in rice cultivation.

The Department of Crops Production under the agriculture ministry took on a leading role in the formulation of the NDC implementation plan for the sector.

Through the workshop, department leader Nguyen Nhu Cuong acknowledged the proposed mitigation options to reduce GHG emissions in rice cultivation as well as the technical inputs by IRRI and workshop participants for building the NDC implementation plan.

He appreciated the contributions of IRRI and other organisations in providing technical assistance to MARD as well as linking partners and enterprises to achieve the goal of GHG emissions mitigation in Vietnam’s rice sector.

VNS

Oil and gas companies expect good performance in Q1 on higher crude price

April 6, 2021 by bizhub.vn

PetroVietnam Gas workers at its plant. — Photo pvgas.com.vn

Many Vietnamese companies in the oil and gas field might post positive results in the first quarter of 2021 thanks to the strong rally of crude oil in the international market.

As of March 31, crude prices rose more than 23.6 per cent. It even broke over US$70 a barrel in March.

The gain received support from lower global oil stocks. The Organisation of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed to extend production curbs, and supply from the US was estimated to fall 4 million barrel a day.

The bullish oil price might have positive effects on business activities of oil and gas companies in this year’s first quarter. In early April, PetroVietnam Gas JSC (GAS) reported revenue of over VND17.8 trillion in the first quarter, equivalent to 102 per cent of its quarterly target.

Its profit after tax was more than VND2.23 trillion, equivalent to 127 per cent of its plan, GAS said in a statement on its official website.

The company said that despite unstable demand from customers, lower than GAS’ estimation and that of the same period last year, and some transportation issues to transfer oil and gas to the mainland from offshore basin, GAS still achieved business targets on higher oil prices.

GAS’ price policy is normally 46 per cent of furnace oil (FO) price. Once oil prices rise, GAS will directly benefit from the higher sale price of gas and liquefied petroleum gas (LPG). It is holding a 100 per cent market share in natural gas and is accounting for the largest part in wholesale LPG.

Binh Son Refining and Petrochemical Company Limited (BSR) also expected good results in the first quarter. In an announcement, BSR estimated that it gained nearly VND21 trillion in revenue in the first quarter, with a profit of over VND1.8 trillion.

The company stated that the strong rally in the international oil price is the main reason for the good results.

Meanwhile, fuel demand is also expected to improve as the pandemic has been contained.

PetroVietnam Oil Corporation (OIL) said that the increase in oil prices might help it revert the provision for devaluation of inventories in the first quarter of 2021, as well as to improve domestic fuel output, especially aviation fuel when international routes are reopened.

The group of oil and gas companies providing services and products such as PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling & Well Services Corporation (PVD), Petrovietnam Transportation Corporation (PVT) and PetroVietNam Chemical and Services JSC (PVC) also witnessed positive signs on stable operations and development of new projects.

Shares of these companies were also boosted by the higher oil prices and good business result outlooks.

In the first quarter, BSR shares increased sharply by 73.5 per cent compared to the beginning of the year, followed by PVD (30.6 per cent), PVT (17.2 per cent), PVS (22.3 per cent), OIL (17.2 per cent) and GAS (1.8 per cent). — VNS

Oil and gas companies expect good performance in Q1

April 6, 2021 by en.vietnamplus.vn

PetroVietnam Gas workers at its plant. (Photo pvgas.com.vn)

Hanoi (VNS/VNA) – Many Vietnamese companies in the oil and gas field might post positive results in the first quarter of 2021 thanks to the strong rally of crude oil in the international market.

As of March 31, crude prices rose more than 23.6 percent. It even broke over 70 USD a barrel in March.

The gain received support from lower global oil stocks. The Organisation of the Petroleum Exporting Countries and its allies, known as OPEC , agreed to extend production curbs, and supply from the US was estimated to fall 4 million barrel a day.

The bullish oil price might have positive effects on business activities of oil and gas companies in this year’s first quarter. In early April, PetroVietnam Gas JSC (GAS) reported revenue of over 17.8 trillion VND in the first quarter, equivalent to 102 percent of its quarterly target.

Its profit after tax was more than 2.23 trillion VND, equivalent to 127 percent of its plan, GAS said in a statement on its official website.

GAS’ price policy is normally 46 percent of furnace oil (FO) price. Once oil prices rise, GAS will directly benefit from the higher sale price of gas and liquefied petroleum gas (LPG). It is holding a 100 percent market share in natural gas and is accounting for the largest part in wholesale LPG.

Binh Son Refining and Petrochemical Company Limited (BSR) also expected good results in the first quarter. In an announcement, BSR estimated that it gained nearly 21 trillion VND in revenue in the first quarter, with a profit of over 1.8 trillion VND.

The company stated that the strong rally in the international oil price is the main reason for the good results.

Meanwhile, fuel demand is also expected to improve as the pandemic has been contained.

Shares of these companies were also boosted by the higher oil prices and good business result outlooks.

In the first quarter, BSR shares increased sharply by 73.5 percent compared to the beginning of the year, followed by PVD (30.6 percent), PVT (17.2 percent), PVS (22.3 percent), OIL (17.2 percent) and GAS (1.8 percent)./.

VNA