PV Power nears launch of Vietnam’s first full LNG-to-power units
Nhon Trach Unit 4 — one of two units at Vietnam’s first LNG-fired power plant — is scheduled to begin commercial operations on December 20. PetroVietnam invested an estimated $1.4 billion in the twin units, which have a combined capacity of 1,620 MW.
Commonwealth LNG project in US names Japan's Sumitomo Mitsui bank as main advisor
Commonwealth LNG, the US liquefaction and export plant proposed for the west bank of the Calcasieu River in Cameron Parish in Louisiana has named Japanese bank Sumitomo Mitsui Banking Corp. as its financial advisor to help raise capital and advance the venture.
“We are pleased to be partnered with this global financial leader as we move forward with our innovative LNG investment,” said Commonwealth LNG President and Chief Executive Paul Varello.
“SMBC’s experience and reputation in capital asset advice and management will help ensure the stability and predictability of our development project in southwest Louisiana,” he added.
The US project developers noted that SMBC was one of only four banks to have played a primary role in each of the LNG liquefaction project financings closed to date in North America.
“SMBC is very happy to be associated with such an innovative project as Commonwealth LNG,” said Nobuyuki Kawabata, CEO of the Americas Division of the Japanese bank.
Commonwealth LNG was accepted into the FERC “pre-filing” process in August 2017 and current plans are for construction to begin as early as 2019, with operations to commence by 2022.
At full capacity, Commonwealth LNG is expected to produce 9 million tonnes per annum of LNG.
The facility would be located along the South Prong of Grand Bayou in Cameron Parish, where several other projects are being built.
Commonwealth said it intended to file a formal application for the project with the FERC no later than August 2018.
Its industry partners for equipment include, compressors and drives maker, Siemens of Germany, and US-based consultants CH-IV, a subsidiary of Australian engineering group Clough Ltd.
The project company said it planned to construct eight single mixed-refrigerant LNG liquefaction Trains, one marine loading berth with three loading arms, six 400,000 cubic metres capacity LNG storage tanks and four miles of pipeline to connect to inter-state feed-gas supplies.
The Commonwealth project has already been worked on for almost three years by the management team and its LNG consultants, advisors and vendors.
