PetroVietnam Gas seeks LNG supplies for five years

According to a tender document posted on the company’s website, PV Gas seeks to buy 20,700,000 million British thermal units (mmBtu) of LNG on a delivered ex-ship (DES) basis.

This is about 400,000 tonnes of LNG.

The LNG supplies will be delivered to the PV Gas-operated Thi Vai LNG terminal from 2027 until 2031.

PV Gas launched the tender on August 25, and it closes on September 24.

This is the firs time PV Gas is seeking term LNG supplies.

Previously, it only launched tenders for spot LNG cargoes for delivery to the Thi Vai facility.

Launched in 2023, Vietnam’s first LNG import facility currently has a capacity of 1 mtpa, and it consists of one 180,000-cbm LNG tank, a jetty, and a regas area.

PV Gas plans to triple the capacity to 3 mtpa.

The company also revealed in March that it plans to deploy a floating storage and regasification unit in Vietnam next year, adding to its Thi Vai LNG import terminal.

In the period of 2026-2029, PV Gas plans to deploy an FSRU at its Vung Tau port.

On the other hand, PetroVietnam Power’s Nhon Trach 4 LNG power plant was connected to the national grid in June.

In February this year, PV Power’s Nhon Trach 3 LNG power plant was connected to the national grid.

PV Gas will supply LNG to these power plants under a long-term contract agreed earlier this year.