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Mike Pompeo, Secretary of State of the United States – Photo: REUTERS
“Vietnam has given the green light to AES Group (based in Virginia) to carry out the project,” Pompeo said at the Indo-Pacific Business Forum (IPBF 2020) on October 28.
The US secretary of state said the deal would open the door to importing billions of dollars worth of liquefied natural gas (LNG) from the United States into Vietnam each year, describing it as “mutually beneficial.”
IPBF 2020 opened on the morning of October 28 in Hanoi. Due to the translation of COVID-19, many delegations attend from afar and speak online, including the US secretary of state.
The forum, with the participation of Deputy Prime Minister and Foreign Minister Pham Binh Minh, was held as the United States stepped up against the influence of Chinese state-owned companies in the region.
Vietnam is building many power plants using LNG and the first plant will come online in 2023. Reuters said it is an ambitious measure that could make LNG the main source of energy for the economy. Vietnam is growing rapidly.
Much of that LNG for such power plants in Vietnam will be imported from the US, which seeks to reduce the trade deficit with Vietnam, which has risen to $ 44.3 billion in the first nine months of 2020 by comparison. with $ 33.96 billion for the same period last year.
The U.S. Embassy in Hanoi said that within the framework of the forum, three corporations Bechtel, General Electric, and McDermott signed a previously announced $ 3 billion deal to develop a 3-capacity 2-gigawatt LNG power plant in the province of Bac Lieu.
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