- March 1, 2022
- Posted by: GBS
JERA Co., Inc. (“JERA”) announces today the start of full-scale operations by JERA Energy Vietnam Co., Ltd. (“JERA 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—which emits less CO2 than power generation using other fossil fuels—can 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.
Related: Things to know about Vietnam company formation
JERA 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 JERA’s business base in Vietnam, JERA 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, JERA will continue to actively further business development in both areas.
Leveraging its long experience in the LNG value chain businesses, JERA will follow the decarbonization roadmaps that it is drawing up for each country and region based on its “JERA Zero CO2 Emissions 2050” objective as it strives to expand the adoption of LNG—a transitional fuel indispensable for achieving decarbonization, particularly in Asia—and to contribute to global decarbonization and energy solutions.