Hong Namkoong

#ExcelerateEnergy has signed an agreement with PetroVietnam Technical Services Corporation (#PTSC), a subsidiary of #PetroVietnam, to jointly explore floating storage regasification unit (#FSRU) based technical solutions for importing #LNG into #Vietnam, the company announced on 23 September. The agreement will see both companies conducting feasibility studies to evaluate FSRU opportunities, aiming to optimise Vietnam's existing natural gas infrastructure. The goal is to supplement domestic gas supply with regasified LNG, meeting the growing demand for natural gas and encouraging the development of a regional gas market. This partnership is part of Excelerate's broader strategy to expand into Vietnam's rapidly growing LNG market. In June 2024, the company signed a term sheet with ITECO Joint Stock Company to co-develop a greenfield LNG import terminal in Hai Phong. The Northern Vietnam LNG Terminal (NVLT) is projected to have a total import capacity of 1.2mn tonnes/year, constructed in two phases. The first phase of NVLT is expected to have a capacity of 0.7mn tonnes/year and aims to begin operations in 2027. 🪅🪩🎭🎬 FSRU is an increasingly important means of storing and regasifying LNG and Asia accounts for having built 97% of the 49 FSRU fleet at the end of 2022. 🔑Key FSRU Drivers🗝️ ♈ The demand for LNG raised due to the deployment of FSRU, specifically in Asia and Europe, and fulfils the need for supplying natural gas to improve the efficiency of power generation projects across the world. ♉ FSRUs have created a niche in the market chiefly because it is easy to implement, is affordable, needs little investment or construction and can offer faster access to LNG. ♎ The cost of building an FSRU with all necessary facilities is 40%-50% less compared to the price of an onshore LNG facility. ♐ FSRU is the answer to quicker implementation to reduce carbon emissions, makes it an attractive option. This growth attributes high demand for natural gas.

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📢 👀 Progress Update: Advancing Modularity and Scalability in Tank Storage System Design 🛢️ 🧐 In our pursuit of achieving #modularity, our team led by HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE) has made significant strides in the design of our insulation system. We have implemented a three-layered approach, introducing the concept of unit #insulation #panels for each layer. These panels, measuring approximately 1,000 mm in both length and width, enable a modular approach to insulation installation. 📐 🎯 As we continue, our focus is on tailoring the cargo tank dimensions to meet the required #transportation capacity of #liquefied #hydrogen carriers. This involves calculating the optimal length, width, and height of the tank. Additionally, we are in the process of developing a draft installation procedure for the unit insulation panels to align with the calculated cargo tank dimensions. 📏⚒ 📊 These developments represent crucial steps towards enhancing the modularity and #scalability of our tank storage system, ensuring #efficiency and adaptability in meeting diverse transportation needs. 💡 ⚠ 📌 Stay tuned for more updates! ➡ Visit our website LH2CRAFT: 🔗https://lh2craft.eu/ ➡ Follow us on X 👉 @LH2CRAFT   This project has received funding from the European Union’s Horizon Europe research and innovation program under grant agreement no. 101111972. UK participation in LH2CRAFT Project is funded by UK Research and Innovation (UKRI) under the UK government’s Horizon Europe guarantee [grant-numbers 10082044 and 10070575]. #Modularity #Scalability #TankStorageSystem #SustainableEnergy #Innovation #LH2

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Quote from the article: " The Ministry of Industry and Trade has now set a price cap of 2,590.85 dong ($0.10) per kilowatt-hour (KWh) for electricity sourced from LNG sold by power producers to state grid operator EVN in 2024". As the biggest cost element (75-85%) is coming from the LNG commodity price, which is fluctuating, I would agree with the opinion that this price cap is risky. At certain price range (like low oil price), that target is achievable. Otherwise, the government would have to inject subsidy to keep the import terminals and the power plants in operations.

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The Vietnam National Oil and Gas Group (Petrovietnam) saw a total estimated revenue of 231 trillion VND (9 billion USD) from production and business activities in the first quarter of 2024, exceeding the set quarterly plan by 33% and up 19% year-on-year, head a conference held by the group recently. Key production indices of the Vietnam National Oil and Gas Group in the first quarter showed growth compared to the same period last year, with the output of crude oil, gas, urea, NPK fertiliser surpassing quarterly targets by 19.4%, 32%, 7% and 59%, respectively. The production of oil and petrol also exceeded the plan for Q1 (excluding the output of Nghi Son Refinery) by 22.5%. Compared to the same period last year, the production of petroleum, electricity, urea, and NPK fertilizer also increased by 9.8%, 17.5%, 3.2% and 41%, respectively. 𝐑𝐞𝐚𝐝 𝐀𝐫𝐭𝐢𝐜𝐥𝐞: https://lnkd.in/dYdNtCBE 𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐍𝐨𝐰: https://lnkd.in/eWy74kPX #Petrovietnam #OilandGas #VietnamEconomy #RevenueGrowth #EnergySector #ProductionIndices #CrudeOil #GasProduction #FertilizerIndustry #PetroleumProduction #BusinessGrowth #EnergyRevenue #QuarterlyPerformance

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The Vietnam Petroleum Institute (VPI) has commissioned Black & Veatch to study carbon-cutting technologies at three coal-fired power plants owned by Vietnam Oil and Gas Community (Petrovietnam or PVN). The study’s objective is to investigate the current #CarbonCapture technology landscape and evaluate the feasibility and effectiveness of applying that technology to the flue gas from the coal-fired #PowerPlants. Learn more on how our organization is contributing to Asia Pacific’s #EnergyTransition targets: http://ms.spr.ly/6041mXC3Z

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KHNP HOT NEWS _ 2024.06.25. KHNP Launches Consultative Group for Nuclear Power Plant Engineering - Sharing engineering information and reinforcing trust between parties in nuclear power plant industry - Korea Hydro & Nuclear Power Co., Ltd. (KHNP; President & CEO, Joo-ho Whang) launched the “Consultative Group for Nuclear Power Plant Engineering” on June 25 to share engineering information and exchange ideas between parties in the nuclear power industry. The group will comprise KHNP and 40 business partners in four fields, including design, manufacture, maintenance, and ISI(In Service Inspect), and is scheduled to interchange crucial project directions related to engineering and discuss joint response measures. At the group’s opening ceremony at the Gyeongju Hilton Hotel, participants debated on matters such as “roles and ways to become good to great companies” and “forming sound and fair relationships within the nuclear power industry” under the theme of “reinforcing trust for the future of the nuclear power industry.” They also rolled out an industry safety and health campaign under the slogan “Work Safe, Work Together!” and assured themselves of cooperating for industrial safety. Whang Joo-ho, the president and CEO of KHNP, said, “We expect our country’s nuclear power industry to be more competitive through mutual growth within the nuclear power plant ecosystem based on engineering and empowered communication and trust.” He added, “Based on details discussed at the consultative group, we should join our forces to secure a dominant competitive edge in the nuclear power industry and let all relevant companies take leaps to become good to great companies.” KHNP converted into a advanced engineering system in December 2023, and has been striving to settle down and enhance the safety and efficiency of nuclear power plants. ✅️ To learn more about this : https://lnkd.in/gbwW4a8t #KHNP #NuclearPowerPlant #NuclearPower #Nuclear #ConsultativeGroup #energy #NuclearPowerPlantEngineering #nuclearpowerindustry

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Excelerate Energy is best known for floating regasification storage units but this latest addition to Vietnam's LNG infrastructure would be an on-shore terminal. To be completed in two phases, the Northern Vietnam LNG Terminal is expected to have an initial capacity of 0.7 million tonnes per annum, with eventual expansion to  1.2 million mtpa. LNG imports, which only started in Vietnam last year, are expected to make up nearly 15% of the energy mix by 2030 as the country looks to reduce its reliance on coal for power generation. ------------------------------------------------------ 💡 We are the voice of the gas industry in Asia 📖 Follow us for insights, data and policy on the pathway to a reliable, low-carbon energy future #lng #naturalgas #energysecurity #energytransition #decarbonisation #decarbonization

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𝗩𝗜𝗘𝗧𝗡𝗔𝗠 𝘁𝗼 𝘂𝗽𝗴𝗿𝗮𝗱𝗲 𝗹𝗼𝗴𝗶𝘀𝘁𝗶𝗰𝘀 𝗰𝗮𝗽𝗮𝗰𝗶𝘁𝘆 𝗮𝗻𝗱 𝗮𝗰𝗰𝗲𝗹𝗲𝗿𝗮𝘁𝗲 𝘁𝗵𝗲 𝗟𝗡𝗚 𝘀𝘂𝗽𝗽𝗹𝘆 𝗰𝗵𝗮𝗶𝗻 𝘁𝗼 𝘁𝗵𝗲 𝗡𝗼𝗿𝘁𝗵. On Friday, September 6, 2024, Vietnam achieved a significant milestone in its gas industry by launching the first liquefied natural gas (LNG) train shipment from southern to northern Vietnam. The train successfully transported tanks filled with LNG at -162°C from the Thi Vai LNG harbor in the south to Dong Anh station in Hanoi, covering a nearly 2,000 km journey. This marks a momentous step towards meeting the growing energy demands and advancing Vietnam's industrial development. The expansion of rail and road transport is crucial for meeting the rising energy requirements of industrial production in the northern region, which needs complete LNG import infrastructure. This initiative will establish a robust and adaptable energy supply network throughout Vietnam, fostering the advancement of clean LNG energy. As a result, we can expect a 30% decrease in CO2 emissions compared to coal and a 40% decrease compared to oil. Launching the first LNG train reflects PV Gas's strategy to optimize its energy value chain and affirms the company's pioneering position in building a sustainable energy future for Vietnam. It also demonstrates PV Gas's ability to adapt flexibly in the new energy era and its determination to perfect the energy value chain. PV Gas has closely collaborated with the Vietnam Railway Corporation (VNR) to ensure technical standards and safe transportation conditions for this historic LNG train shipment. VNR has pledged strong support and system-wide collaboration for this new PV Gas business model. This milestone will open up new opportunities for growth for PV Gas and its subsidiaries, as well as lead the competitive energy market in general and the gas industry in particular towards clean and sustainable energy solutions in Vietnam. 👉 Read more: https://lnkd.in/ggsXJFa9

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Another step forward for Vietnam's plans to have LNG supply nearly 15 per cent of its power by 2030. The Cai Mep LNG terminal, the country's second, is targeting a start of commercial operations in September and have will capacity of 3 mtpa, expandable to 6 mtpa. It has pipeline connectivity to Vietnam’s largest power generation complex, the Phu My industrial zone, with a gas-fired capacity of 3.9 GW. Vietnam's first-ever LNG import facility, Thi Vai, entered operations in 2023. ------------------------------------------------------ 💡 We are the voice of the gas industry in Asia 📖 Follow us for insights, data and policy on the pathway to a reliable, low-carbon energy future #lng #naturalgas #energytransition #energysecurity #decarbonisation #decarbonization

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📢📢 The FLoating Offshore Wind ReadINess (FLOWIN) Prize in the U.S. has awarded its second phase winners—Principle Power's WindFloat, PelaStar, Technip Energies’ INO15, Stiesdal’s Tetra Triple-One, and Esteyco’s WHEEL. Each winner received $450,000 and a $100,000 voucher for Department of Energy (DOE) lab support. They now advance to the final phase, competing for up to three $900,000 prizes, aiming to develop manufacturing plans for deploying floating wind technologies in the U.S. Principle Power's WindFloat, part of the FloatHOME consortium, stands out with its modular design enabling varied manufacturing strategies. PelaStar, developed by Glosten, is a tension-leg platform noted for its low environmental impact and flexibility in manufacturing and installation. Both are progressing towards facilitating streamlined and cost-effective production of floating wind platforms. https://lnkd.in/dwUcVH7x

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Japanese trader Sumitomo Corporation and JGC Japan Corp, part of JGC Holdings Corp, have announced plans to create a supply chain for floating offshore wind. This collaboration will focus on the design, manufacture, and delivery of floating components, and partnerships with steel and shipbuilding manufacturers. Forecasts predict a substantial rise in global floating offshore wind power generation capacity from 0.2 GW in 2022 to 269 GW by 2050, with around 800 new units expected to be installed annually by then. However, the absence of an established supply chain could pose challenges to the market's expansion. Sumitomo, already an investor in the offshore wind sector, and JGC Group, which established a dedicated department for this market in 2018, are well-positioned to address this bottleneck and drive progress in the industry. The projected growth in this sector presents a tremendous opportunity for innovation and sustainability, and we look forward to seeing these advancements come to completion. #renewableenergy #offshorewind #sustainability #innovation #windenergy #apac #evoegy

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KHNP HOT NEWS _ 2024.08.05. KHNP Acquires Equipment Qualification Agency Certification in Seismic Test Field - Constructing facilities capable of conducting seismic tests under conditions  similar to real-life earthquakes - Korea Hydro & Nuclear Power (KHNP; President & CEO Joo-ho Whang) has acquired qualification to verify the seismic performance of nuclear power plants by testing. This qualification was accredited by the KoFONS(Korea Foundation of Nuclear Safety), an equipment qualification management agency. KHNP utilized external seismic test agencies in the past, but with this new qualification, it can now conduct seismic performance tests on equipment and components used in nuclear power plants using the shaking tables installed at the Central Research Institute's NuSTEC(Nuclear Structural and Seismic Testing Center). This will improve in-house technologies and enable swift responses to seismic issues, thereby ensuring the safety of nuclear plant facilities.    Constructed in January, NuSTEC is a large test center that further improves nuclear plant safety. The building is equipped with large (4×4m) and small (2×2m) shaking tables that simulate earthquakes, together with vibration measurement and recording devices. With this qualification, KHNP now holds qualification for performance evaluation in eight areas, including thermal aging tests and LOCA(loss-of-coolant accident) tests. Hocheol Shin, Head of KHNP's Central Research Institute, said, “We will strengthen earthquake safety through systematic testing and prompt technical support using Korea's top-level testing infrastructure.” He added, “We also plan to improve the nuclear power plant ecosystem by jointly utilizing the Seismic Performance Evaluation Testing Center with research institutions and small and medium-sized enterprises in the future.” <End> #KHNP #Seismic #seismicperformance #nuclearpowerplant #EquipmentQualificationAgencyCertification #nuclear #KoFONS

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This is the second delivery in as many months for Vietnam's flagship LNG import terminal - with a further cargo being targeted for later in March. Vietnam's National Power Development Plan 8, approved last year, charts a leading role for LNG as the country looks to transition from its current reliance on coal for power generation. After taking delivery of its first shipment last year, Vietnam hopes LNG will make up nearly 15% of its primary energy mix by 2030. Adding in domestic resources, gas will supply nearly a quarter of Vietnam's energy by the end of the decade, supporting increasing investment in renewables. Read our Vietnam energy snapshot: https://bit.ly/3Lu6sgB ------------------------------------------------------ 💡 We are the voice of the gas industry in Asia 📖 Follow us for insights, data and policy on the pathway to a reliable, low-carbon energy future #lng #naturalgas #energytransition #energysecurity #decarbonisation #decarbonization

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The global supply chain for clean ammonia continues to expand. "Sembcorp Green Hydrogen – a wholly owned subsidiary of Sembcorp Industries – and two other listed Japanese corporations have signed an in-principle agreement with Nippon Yusen Kabushiki Kaisha for the export of green ammonia from India to Japan. This comes after Sembcorp and the two listed companies – Kyushu Electric Power and Sojitz – signed a heads of terms in June for green ammonia offtake. The trio had signed a memorandum of understanding in December 2023 to explore supplying Japan with green ammonia produced in India. On Aug 21, Sembcorp said Nippon Yusen Kabushiki Kaisha will oversee the maritime transportation of green ammonia and develop a strong supply chain to export the gas from India to Japan, particularly in the Kyushu region. Meanwhile, Sembcorp said it will produce competitively priced green ammonia in India. The group in June noted that it will use renewable energy to produce an initial 200,000 tonnes per annum of green ammonia in India. The energy company noted that front-end engineering and design work for the green ammonia plant in Tuticorin, India, has started. This came after the group previously said it had secured land in India for the development of ammonia facilities." https://lnkd.in/gQDnXjSh

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🌟 Enter the Booming Chinese Nuclear Market with DB2 Consulting! 🌟 DB2’s Chief Representative in China, HS Tech, has been assisting foreign companies in obtaining their HAF604 certificates for 15 years. With 8-10 new reactor builds announced yearly, the Chinese nuclear market is booming! 🚀 **Why HAF604 Matters** HAF604 is a crucial regulation for foreign suppliers aiming to provide safety-related equipment to China's nuclear power plants. Issued by the National Nuclear Safety Administration (NNSA) of China, it outlines the licensing requirements and procedures for foreign companies involved in nuclear safety equipment design, manufacture, and testing. **Key Aspects** ✅ Scope and Applicability: Essential for components like pressure vessels, steam generators, pumps, valves, and other critical systems. ✅ Licensing and Certification: Requires a thorough assessment of quality management systems, technical capabilities, and compliance with standards. ✅ Quality Assurance: Mandates robust QA programs with documentation and traceability. ✅ Inspections and Audits: Suppliers undergo periodic audits to ensure ongoing compliance. ✅ Compliance with Chinese Codes: Products must meet Chinese nuclear codes and standards. ✅ Renewal and Maintenance: Licenses need renewal every five years, demonstrating continued compliance. **Overcoming Challenges** Navigating cultural and language barriers, rigorous compliance requirements, and understanding Chinese regulatory standards can be challenging. DB2 Consulting and HS Tech are here to help you overcome these barriers and secure HAF604 certification. **Strategic Importance** Achieving HAF604 certification ensures your equipment meets China’s nuclear safety standards, opening significant opportunities in this rapidly expanding market. Partner with DB2 Consulting to navigate this complex landscape and thrive in China's nuclear sector. Visit our website for more information on how we can help you succeed! 🌐 https://lnkd.in/ghHvCU4D #NuclearEnergy #HAF604 #China #BusinessExpansion

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📢 𝐔𝐒 𝐠𝐢𝐚𝐧𝐭 𝐥𝐨𝐨𝐤𝐢𝐧𝐠 𝐢𝐧𝐭𝐨 𝐅𝐒𝐑𝐔-𝐛𝐚𝐬𝐞𝐝 𝐭𝐞𝐜𝐡 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐭𝐨 𝐬𝐭𝐞𝐩 𝐮𝐩 𝐋𝐍𝐆 𝐢𝐦𝐩𝐨𝐫𝐭𝐬 𝐠𝐚𝐦𝐞 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡𝐞𝐚𝐬𝐭 𝐀𝐬𝐢𝐚𝐧 𝐜𝐨𝐮𝐧𝐭𝐫𝐲 U.S.-based Excelerate Energy has joined forces with PTSC, a subsidiary of PetroVietnam, to explore #FSRU-based technical solutions for #LNG imports into #Vietnam. 𝐒𝐭𝐞𝐯𝐞𝐧 𝐊𝐨𝐛𝐨𝐬, President and CEO of Excelerate, commented: “𝑊𝑒 𝑎𝑟𝑒 𝑐𝑜𝑚𝑚𝑖𝑡𝑡𝑒𝑑 𝑡𝑜 𝑤𝑜𝑟𝑘𝑖𝑛𝑔 𝑡𝑜𝑔𝑒𝑡ℎ𝑒𝑟 𝑡𝑜 𝑎𝑑𝑑𝑟𝑒𝑠𝑠 𝑉𝑖𝑒𝑡𝑛𝑎𝑚’𝑠 #𝑒𝑛𝑒𝑟𝑔𝑦 𝑐ℎ𝑎𝑙𝑙𝑒𝑛𝑔𝑒𝑠 𝑎𝑛𝑑 𝑐𝑜𝑛𝑡𝑟𝑖𝑏𝑢𝑡𝑒 𝑡𝑜 𝑡ℎ𝑒 𝑐𝑜𝑢𝑛𝑡𝑟𝑦’𝑠 𝑠𝑢𝑠𝑡𝑎𝑖𝑛𝑎𝑏𝑙𝑒 𝑑𝑒𝑣𝑒𝑙𝑜𝑝𝑚𝑒𝑛𝑡.” 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐦𝐨𝐫𝐞: https://buff.ly/4ecNgzW #gas #naturalgas #offshoreenergy #oilgas #oilandgasnews #oilandgas #Asia #SoutheastAsia #decarbonization #energysecurity #energytransition #carbonneutral #carbonneutrality 📸 Featured image: FSRU (for illustration purposes); Source: Excelerate Energy

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In response to recent statements by a former supervisor of Taiwan Power Company (#Taipower) regarding the feasibility of restarting the 4th #Nuclear Power Plant (Lungmen Nuclear Power Plant), Taipower emphasized the need for practical and cautious handling of the issue. The former supervisor stated that the plant could be reactivated in 3 years with a budget of NT$30 billion; these claims lack professional evaluation and oversimplify the significant safety considerations involved. According to the 2021 referendum, the majority of public opinion remains concerned about the safety of the 4th Nuclear Power Plant and opposes its restart. Additionally, many of the plant's original equipment manufacturers have ceased production, raising concerns about the feasibility of finding a team to continue construction, which affects both the timeline and cost estimates. Even if there is an intention to continue construction, challenges such as conducting new geological surveys and updating related equipment persist. https://lnkd.in/gyvTaTzk

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ClassNK has issued an Approval in Principle (AiP) for the membrane-type LNG carrier installed with the 'Wind Challenger', a hard sail wind propulsion system.   The ship is jointly developed by Mitsui O.S.K. Lines, Ltd. and Hanwha Ocean Co., Ltd.   This marks the world's first AiP for an LNG carrier equipped with a Wind-Assisted Propulsion System (WAPS).   As a solution for responding to environmental regulations and fuel cost reduction, the implementation of wind-assisted propulsion systems is in progress. When such systems are installed on board ships, it is expected to be effective in reducing CO2 emissions, etc., by taking advantage of wind power.   Read more here…   https://lnkd.in/eQXXeyXp   #maritimeindustry #shipping #windpropulsion #propulsionsystems   ClassNK - Nippon Kaiji Kyokai, Mitsui O.S.K. Lines, Ltd., Hanwha Ocean

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