JAPEX joins Vietnam LNG project

Vietnam

HANOI, January 12, 2022 – Japan Petroleum Exploration has signed a share purchase agreement with Iteco Joint Stock Company for a stake in the Northern Vietnam LNG terminal being constructed in Hai Phong City, Vietnam, the Japanese E&P company announced on Tuesday.

Development includes construction of a 50,000-square-metre storage tank and associated jetty facilities. The asset will have a production capacity of 650,000 tonnes per year.

Commercial operation is expected in 2025.

An additional 30,000-square-metre storage tank is planned in the latter half of the 2020s.

Final investment decision on the project is expected in H2 2022.

The size and cost of the shares was not disclosed.

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