Exxon Mobil plans $20bn gas-fired investment

Texas, US-based Exxon Mobil Corp. (NYSE: XOM), the world’s largest energy producer by market value, is preparing to invest around $20bn in a gas-fired power complex with Vietnam's state oil and gas group Petrovietnam.

The news was broken by the Thanh Nien (Young People) newspaper quoting Vietnam’s Trade Ministry.

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The project will involve the construction of two power plants with a combined capacity of 6,000 to 6,500 MW, which could make the United States one of the top four foreign investors in Vietnam along with Japan, South Korea and Taiwan, the report said.

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