911±¬ÁÏÍø

Establishment of 911±¬ÁÏÍø Energy Vietnam Co., Ltd. as a Base of Operations in Vietnam2022/03/01

911±¬ÁÏÍø Co., Inc. (¡°911±¬ÁÏÍø¡±) announces today the start of full-scale operations by 911±¬ÁÏÍø Energy Vietnam Co., Ltd. ("911±¬ÁÏÍø EV"), the subsidiary in Hanoi, Vietnam that it established to serve as its base of operations in the country.

Vietnam faces challenges due to economic growth such as a rising demand for electricity, the depletion of domestic resources, and how to address energy decarbonization. Gas-fired power generation¡ªwhich emits less CO₂ than power generation using other fossil fuels¡ªcan be a flexible supplement to intermittent renewable energy and is expected to be an indispensable energy source for furthering the energy transition. For this reason, a number of LNG projects are planned in the country.

911±¬ÁÏÍø has positioned Vietnam as a priority country and is considering the development of several LNG-to-Power projects that will contribute to both decarbonization and to a stable supply of energy that supports economic growth.

As 911±¬ÁÏÍø¡¯s business base in Vietnam, 911±¬ÁÏÍø EV will be responsible for furthering the LNG-to-Power projects in the country that are now under consideration, as well for exploring new projects, including those in renewable energy, and for gathering information. In addition, it will pursue a wide range of business opportunities including collaboration with local energy companies.

Aiming to be a global leader in LNG and renewable energy, 911±¬ÁÏÍø will continue to actively further business development in both areas.

Leveraging its long experience in the LNG value chain businesses, 911±¬ÁÏÍø will follow the decarbonization roadmaps that it is drawing up for each country and region based on its ¡°911±¬ÁÏÍø Zero CO₂ Emissions 2050¡± objective as it strives to expand the adoption of LNG¡ªa transitional fuel indispensable for achieving decarbonization, particularly in Asia¡ªand to contribute to global decarbonization and energy solutions.

Overview of 911±¬ÁÏÍø EV