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PV Gas said in a recent statement that the company and its US-based partner Nebula Energy held a meeting on February 5 with the government of Ha Tinh province.
During the meeting, the parties discussed investments for energy projects and digital infrastructure in the province, focusing on the Vung Ang Economic Zone
PV Gas provided an update on the development of the North Central LNG terminal project which will be located in the Vung Ang Economic Zone.
The firm noted that the Ha Tinh province approved the LNG facility in September last year.
$1 billion
PV Gas said the terminal will have a capacity of up to 3 mtpa of LNG per year, with a total investment of over 26 trillion Vietnamese dong ($1 billion).
The project will be built in two phases, with the first phase having a capacity of 1 mtpa and the second with a capacity of 3 mtpa, similar to the PV Gas-operated Thi Vai LNG import facility, Vietnam’s first LNG import terminal.
According to PV Gas, Phase 1 of the project is scheduled to be completed and put into operation between 2029 and 2030.
Currently, PV GAS is preparing a feasibility study report for submission to the provincial government for approval.
Simultaneously, PV Gas noted it is preparing the necessary steps to sign design, procurement, and construction contracts, laying the foundation for implementing the project on schedule.
Other projects
In addition to the LNG terminal project, PV Gas plans to join with partners to invest in the Vung Ang III thermal power plant project, which is part of the overall LNG power project chain development, it said.
PV Gas also proposes to collaborate with Nebula Energy to invest in a data center in Ha Tinh, with a total investment of approximately $1 billion, located next to the North Central LNG storage facility in the Vung Ang Economic Zone, and requiring approximately 1,000 MW of electricity per year, the firm said.
Nebula Energy is already involved in the LNG business in Vietnam.
Last year, Nebula Energy’s AG&P LNG and Vietnam’s Hai Linh received the first commissioning cargo at their Cai Mep LNG import terminal in Vietnam.
The Cai Mep facility is Vietnam’s second LNG import facility, adding to the PetroVietnam Gas-operated 1 mtpa Thi Vai LNG terminal in Ba Ria-Vung Tau province.
The terminal has a capacity of 3 mtpa, expandable to 6 mtpa.
In addition to these facilities, PV Gas is also working on the Son My LNG import terminal project, and the PV Gas-Hai Phong LNG port.
PV Power, a sister company of PV Gas, also launched commercial operations at its Nhon Trach 3 and 4 LNG power plants in December last year.
Vietnam’s first LNG power plants have a total capacity of 1.6 GW.
Last year, PV Gas signed a long-term contract with PV Power to supply the latter’s Nhon Trach 3 and Nhon Trach 4 power plants with LNG.