ECV is fully committed to long-term investments tailored to the highest needs of Vietnam and delivering innovative solutions with a focus on quality to harness the principles of sustainable development.
Prime Minister Pham Minh Chinh poses for a photo with ECV CEO and Founder, David Lewis, former US Ambassador to Vietnam Ted Osius and members of the US-ASEAN Business Council 2023 and the Mission. Union of Life & Health Sciences in Vietnam.
Vietnam is in the recovery phase and has become a leading destination for the manufacturing industry in the context that supply chain diversification is very important to the world. In 2022, Vietnam becomes the seventh largest trading partner of the United States and achieves GDP growth of more than 8% – the highest in the world – as new investment flows into Vietnam’s industrial base. . With rapid economic growth, there is an increasing need for infrastructure expansion, especially in the energy and transportation sectors.
Energy Capital Vietnam (ECV) aims to mobilize private capital to invest in energy, industry and infrastructure in Vietnam. ECV’s management team has over 20 years of global experience in energy and infrastructure development. ECV is fully committed to long-term investments tailored to the highest needs of Vietnam and delivering innovative solutions with a focus on quality to harness the principles of sustainable development.
Energy security is national security and maritime security is key to both. Recognizing this dynamic importance – especially in Vietnam, the ECV recently established the Maritime Security Council (MSC) to define, inform and coordinate the implementation of standards and information. international best practice for the safety and security of maritime trade and assist in policy development in Vietnam and surrounding areas.
MSC is operated by Samuel J. Locklear III, Admiral of the United States Navy (retired), former Commander of the US Indo-Pacific Command. Also included are US Navy Vice Admiral Sean Pybus, retired Navy SEAL and former Deputy Commander of US Special Operations Command, and retired Rear Admiral James Rendon, of the United States Coast Guard, who directs interagency coordination at U.S. Indo-Pacific Command. ECV’s advisory board includes Admiral Locklear and former US Ambassador to Vietnam Ted Osius…
ECV Founder and CEO David Lewis speaks about LNG import, storage and distribution in Vietnam at an event with PetroVietnam in Houston, Texas.
With a strong team of experts, ECV has the advantage to promote its leading role in developing Vietnam’s infrastructure in three areas:
Vietnam is rapidly developing into a middle-market economy as electricity production, essentially, increased fivefold compared to 2005. Reliable access to electricity has made Vietnam a preeminent export market and attractive investment destination of the world. Therefore, energy security remains a very important issue to ensure the prosperity of Vietnam continues to develop, which is the most vulnerable in society if electricity instability occurs.
In addition, Vietnam has boldly been at the forefront of planning efforts to significantly reduce electricity emissions over the next 20 years, despite increasing coal consumption, posing challenges in unifying energy and environmental goals. The increase in renewable energy, combined with higher quality natural gas and imported LNG to provide the base load in the energy mix, can create a bridge for Vietnam to access energy security. and support economic growth towards advanced economic status in the coming decades. This dual solution can solve the dilemma of achieving sustainable zero carbon dioxide emissions while maintaining energy security to ensure economic prosperity for Vietnam.
ECV is implementing large, integrated LNG power projects to support Vietnam’s energy transition and ensure reliable access to affordable electricity.
The Mui Ke Ga Liquefied Gas Power (MKG) project in Binh Thuan will include an offshore Floating LNG Storage and Regasification System (FSRU) to efficiently fuel a gas-fired complex on shore can provide energy for millions of households in the South. ECV is focused on providing enhanced price stability through long-term fuel supply contracts linked to the US price index. As the world’s largest natural gas producer, the United States has well-developed markets for hedging commodity price risk. ECV understands how to transfer that price stability to its power projects to benefit domestic consumers in Vietnam. MKG is included in the Power Development Plan VIII (PDP8) which has just been signed and is awaiting approval from the Government.
As manufacturing output expands, Vietnam’s transportation infrastructure, including roads, railways, seaports and airports, must also deliver greater logistics efficiency and maintain a competitive edge. compete as a leading global manufacturing hub.
This is why ECV has partnered with Vietnam’s leading corporation – SaigonTel – to develop a multi-purpose, deep-water port, Long Son International Port (LSIP). Located in Ba Ria – Vung Tau, about 42 miles southeast of Ho Chi Minh City, this new seaport will become the gateway to improve shipping efficiency and enhance energy security.
To ensure the highest quality in engineering, design and operating standards, ECV and SaigonTel have formed a joint venture with the leading US energy port – Corpus Christi Port and the largest US container port – Los Angeles Port. Angeles. The LSIP could improve bilateral trade between the United States and Vietnam while allowing Vietnam to participate in the “green shipping corridor” trade routes established by the Port of Los Angeles. This will incorporate the highest environmental standards into Vietnam’s maritime supply chain, further enhancing Vietnam’s attractiveness to global corporations. The LSIP is set to process around 6 million TEUs (20 foot equivalent units) annually by 2030, increasing Vietnam’s import and export capacity by more than 30%.
LSIP will also enhance Vietnam’s energy security by increasing the domestic storage capacity of refined petroleum products, improving resilience on domestic air and land transport vehicles in the region. Vietnam. The Port of Corpus Christi is poised to become one of the key hydrogen hubs in the United States, allowing LSIP to benefit from knowledge transfer on hydrogen technology and to support future trade flows if the shipping market International hydrogen transfer developed.
With guidance from the Port of Los Angeles and Corpus Christi, LSIP can be expected to adopt global best practices in clean energy shipping and port operations, increase domestic import/export capacity and strategic fuel reserve expansion. Together these things strengthen Vietnam’s energy security and support economic growth and wealth-building for the Vietnamese people.
For Vietnam, LNG represents a significant improvement in carbon emissions from coal. However, much more needs to be done to address emissions from LNG to achieve its zero ambition. ECV has developed a comprehensive, repeatable and socially impactful roadmap to reduce emissions. This through simultaneous investment in a portfolio of high-quality domestic carbon-reducing assets to significantly reduce net emissions from gas-fired electricity.
This conceptual framework has been developed by working together with US and international clean energy experts. This fund focuses on the next generation of carbon offsetting project types – forestry, agriculture, coastal green carbon, transport electrification and urban climate resilience – and funds a portfolio of carbon-reducing assets in the entire Vietnamese economy. This practical solution has been positively evaluated by many climate experts, stakeholders and governments, and most believe this approach could become a core component of the net zero trajectory for many years. decades, with meaningful reductions starting fairly early in the implementation process.
A typical example is the development of green industrial zones, encouraging closed circular production chains, aiming to reduce emissions to the environment. We are honored to work with Long An province to soon prepare a roadmap and action plan for this goal. At the same time, commit to support localities and green transformation industrial zones in the process of mobilizing green credit for project implementation. With that in mind, we have worked actively with our partners to support the construction of the low-carbon Nam Tan Tap and Tan Tap Industrial Park Model, moving towards the goal of being carbon neutral. This project is also receiving interest from many multilateral financial institutions. We believe that this is not only a challenge, but also an opportunity for Vietnam to quickly break through to become a new destination for US and European investors.
Reputation and credibility are vital to success, so ECV works only with world-class companies with proven expertise.
Energy Capital Vietnam (ECV) is a project development company based in Houston, Texas established as a platform for direct investment in Vietnam’s energy and infrastructure sectors.