Mui Ke Ga FSRU

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Mui Ke Ga FSRU, also known as Mui Ke Ga LNG-to-Power Terminal, is a proposed LNG terminal in Mui Ke Ga, Binh Thuan Province, Vietnam, which will use a floating storage and regasification unit (FSRU).

Location

The floating LNG-to-power project will be in Mui Ke Ga, Binh Thuan Province, Vietnam.

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Project details

• Owner: Energy Capital Vietnam (ECV), Gunvor International, B.Grimm Power
• Owner: Energy Capital Vietnam (ECV), Gunvor, B.Grimm Power
• Location: Mui Ke Ga, Binh Thuan Province, Vietnam
• Coordinates: 10.7028408, 107.987166 (approximate)
• Type: Import
• Capacity: 1.5 mtpa
• Status: Proposed, pre-FID
• Start Year: 2025

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

In December 2020, Energy Capital Vietnam (ECV) formed a joint venture with Gunvor International, one of the world’s leading independent energy commodities trading houses. ECV is a US-based project holding and development company established in 2015 to serve as a platform for private investment into Vietnam. The ECV-led consortium is developing an LNG-to-power project in Mui Ke Ga, Binh Thuan province, in southeast Vietnam. Under the terms of the partnership announced, ECV and Gunvor will form a JV for trading and shipping on behalf of ECV. In addition, Gunvor will supply LNG to the JV on a long-term basis.

The fully private, multi-phase power project will connect via subsea pipeline to an offshore floating storage and regasification unit (FSRU) to import LNG. The first phase of the project is targeting a final investment decision (FID) in late 2021 and commercial operations by 2025. The project will consume approximately 1.5 million tonnes per year (mtpa) of LNG, with an ability to increase consumption to reflect subsequent development phases and opportunities presented by market conditions.

In December 2021, ECV signed a consortium agreement with Siemens Energy and B.Grimm Power, the latter of which intends to take a US$200 million stake in the project.

As of July 2023, the project is listed among projects that are "behind schedule or cannot be implemented" in Power Development Plan 8. The project is mentioned in the ECV's strategy, hence the status remains as proposed.