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NEW UPDATES Asean Affairs  4 July 2014  

Construction of undersea gas pipeline starts

HCM CITY  (VNS) — The first phase of the Nam Con Son 2 Gas Pipeline project to lay 153km of undersea pipes off Ba Ria-Vung Tau Province will begin this quarter, according to an official.

Do Khang Ninh, general director of PetroVietnam Gas Corporation (PV Gas), the investor, told Viet Nam News during the signing of an agreement on Tuesday for a US$280 million bank loan to fund the first phase that it is scheduled to be completed in mid-2015.

It is meant to carry gas to the mainland from the offshore Thien Ung and Dai Hung oilfields.

The gas will be supplied to the south-eastern region.

The phase will cost more than $402 million while the entire project will cost $1.3 billion.

Eleven foreign banks led by Taiwan's Cathay United Bank will provide the loan.

One of Cathay United Bank's major syndicated loans in Viet Nam in recent years, it is for seven years including a possible two-year extension unlike the five-year norm for foreign loans in Viet Nam and in the region.

The project will see 325km of offshore pipelines laid besides another 30km on shore.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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