AsiaContracts and Tenders

PetroVietnam Power inks deal with banks for two LNG plants

By LNG Prime Staff
PetroVietnam Power inks deal with banks for two LNG plants
Image: PetroVietnam Power

PetroVietnam Power said it has signed a deal with two local banks to help arrange capital for its planned LNG-powered plants.

The state-run firm appointed a consortium of Techcombank and Military Bank to arrange syndicated loans worth $1.4 billion, according to a PetroVietnam Power statement on Tuesday.

The funds would go for the construction of Nhon Trach 3 and 4 plants with a total capacity of 1,500 megawatt (MW), PetroVietnam Power, a unit of PetroVietnam, said.

PetroVietnam Power plans to launch commercial operations at the two LNG-powered plants in the southern province of Dong Nai by 2024.

Several players, including Delta Offshore, are planning to build LNG-to-power projects in Vietnam in order to meet the country’s growing power demand.

Russia’s Novatek also said it had established an office in Hanoi as it looks to supply LNG to Vietnam.

PetroVietnam Gas has also recently signed a deal with US energy firm AES to build the Son My LNG import terminal in Vietnam.

The government previously said that Vietnam would start importing LNG in 2022.

Most Popular

Vessels

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.
Contracts and Tenders

Chevron, China’s ENN seal second LNG SPA

US energy giant Chevron has signed a second LNG sales and purchase agreement with Chinese independent gas distributor ENN.
LNG Terminals

Venture Global gets OK to introduce gas to final Plaquemines LNG block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the 18th and final liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

More News Like This

LNG Terminals

Russian LNG production down 4.2 percent in January-July

Russian liquefied natural gas (LNG) production dropped 4.2 percent in January-July this year compared to the same period in 2024, according to the Russian statistics agency Rosstat.
Contracts and Tenders

PetroVietnam Gas seeks LNG supplies for five years

PetroVietnam Gas, a unit of state-owned PetroVietnam, has issued a tender seeking a five-year term deal for LNG supplies.
Corporate

Novatek reports lower H1 profit

Russian LNG producer Novatek reported a 34 percent drop in its net profit in the first half of this year.
LNG Terminals

Russian LNG production continues to decline

Russian liquefied natural gas (LNG) production continued to decrease in June compared to last year, according to the Russian statistics agency Rosstat.

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA