PetroVietnam to Build Gas Pipeline
Vietnam’s state-owned oil monopoly PetroVietnam will build a 40-kilometer pipeline to carry natural gas from Su Tu Den (Black Lion) field to power plants in southern Ba Ria-Vung Tau province.
The pipeline is estimated to cost US$100 million.
The pipeline will connect with Nam Con Son gas pipeline to bring gas from Su Tu Den field to gas-fired power plants in the province.
PetroVietnam Gas will borrow capital from Hanoi-based Southeast Asia Bank (SeA Bank) for this project.
To facilitate the lending, the Vietnamese government has allowed SeABank to give loans that may exceed 15 per cent of its equity to PetroVietnam Gas.
SeABank has an equity of VND1,000 billion (US$62.5 million) and assets of VND13,000 billion (US$812.5 million).
Nam Con Son gas pipeline is started from Nam Con Son Basin, about 370 kilometers off Ba Ria Vung Tau coast. (Labor)
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