PetroVietnam Gas Corporation Thursday signed a US$1 billion business cooperation contract with three major foreign firms to lay a gas pipeline in the Mekong Delta region.
PVGas, the gas arm of oil monopoly Vietnam Oil and Gas Group, will hold a 51 percent stake in the Block B – O Mon gas pipeline project, Vietnam News Agency reported.
The US’ Chevron Corporation, Japan’s Mitsui Oil Exploration Company Limited, and Thailand’s PTT Exploration and Production Public Company Limited will own a combined 49 percent.
The 400-kilometer pipeline will be the longest of its kind in Vietnam, with an offshore section of 246 kilometers, and pass through Can Tho city and the provinces of Hau Giang, Kien Giang, Bac Lieu, and Ca Mau.
On completion in 2014, it would carry natural gas from the sea off Vietnam’s southwestern coast at a rate of 18.3 million cubic meters per day, Vietnam Oil and Gas Group’s general director, Phung Dinh Thuc, said.
The gas will be supplied to the O Mon Power Complex in Can Tho, Ca Mau Gas-Power-Fertilizer Complex in the southernmost province of Ca Mau, and other industrial users in the region.
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