Korea Gas Corporation (KOGAS) and Energy Capital Vietnam (ECV) have entered 
into a Memorandum of Understanding (MOU) that provides the framework for the 
development of a privately-funded liquefied natural gas (LNG) regasification 
terminal, storage, gas supply system and 3,200 MW gas-fired power project near 
Mui Ke Ga, Binh Thuan Province, Vietnam (Project). 

The MOU contemplates KOGAS and ECV working together to optimize their efforts 
to meet the significant LNG demand growth forecasted for Vietnam. The scope of 
the MOU covers matters relating to cooperation and collaboration for the 
Project.

Commenting on the MOU, David Lewis, CEO of ECV, said KOGAS' strong presence in 
the LNG business together with ECV's position as one of the first LNG movers in 
Vietnam, allows both companies to leverage each other's strengths to bring 
low-cost LNG to Vietnam and help address critical energy security needs.

"This significant milestone culminates a year-long effort with KOGAS," said 
Lewis. "We share similar strategic visions and ECV is proud to have a company 
as prestigious as KOGAS join a project of this importance. They have been 
steadfastly dedicated and reliable the entire time and we look forward to our 
long-term partnership together." 

Energy Capital Vietnam Selects KBR for Feasibility Study
ECV has awarded KBR a contract to provide feasibility services and refine cost 
estimates for the Project including detailed analysis of optimal design 
combinations. Completion of the study is expected to be achieved in the third 
quarter of 2019.

About KOGAS
As one of the world's largest LNG importers, KOGAS has vast experience and 
expertise in building and operating LNG regasification terminals and 
distribution network for overseas and domestic markets across three decades in 
the LNG industry. KOGAS has been diversifying its business portfolio into the 
whole LNG value chain, a vertically integrated production system that 
encompasses up-stream to down-stream natural gas business and currently 
operates LNG terminals with storage capacity of 11,470,000 kL across 72 storage 
tanks and a nationwide pipeline network.

About ECV
ECV is a leading Vietnam-focused project development and asset management 
company with offices in Dallas, Texas and Ho Chi Minh City, Vietnam and has 
been in discussions with the Vietnamese government regarding energy sector 
privatization since 2015.  

ECV engaged KPMG to forecast electricity demand and known supply constraints in 
Vietnam, as well as highlight the potential role LNG could play in meeting 
domestic energy needs as well as local context on progress regarding the ECV 
approach to project development. ECV has retained legal counsel assistance from 
the Houston and Singapore offices of Akin Gump Strauss Hauer & Feld LLP.

To learn more about ECV, please visit our website at www.ecvholdings.com. 

About KBR
KBR is a global leader in differentiated professional services and technologies 
across the asset and program lifecycle within the Energy Sector, including LNG 
liquefaction and regasification. KBR has operations in 40 countries and employs 
over 35,000 people worldwide.

SOURCE: Energy Capital Vietnam

CONTACT: Debra Richmond, +1 512-585-5579