ExxonMobil stated on Monday that it was continuing preparatory work at the Ca Voi Xanh natural gas project in Vietnam. The company said a final investment decision for the project would depend on regulatory approvals, gas sales deals, and other factors. A company spokesperson said it was working on the final development plan for the project after completing front-end engineering and design (FEED) in May 2020.
Ca Voi Xanh was among projects that Exxon’s board debated in October whether to continue with them amid a push from investors to reduce exposure to fossil fuels. It is potentially Vietnam’s largest gas project, with estimated reserves of 150 Bcm. In its initial plan, the gas from Ca Voi Xanh will be delivered through an 80-km pipeline to a processing facility near Danang city and will be supplied to four planned power plants in Vietnam’s central regions.
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Published on November 30, 2021 9:29 AM (GMT+8)Last Updated on November 30, 2021 9:29 AM (GMT+8)
