PetroVietnam Gas says to import first LNG cargo in 2022

PetroVietnam Gas, a unit of state-owned PetroVietnam, plans to import the first liquefied natural gas cargo via its new Thi Vai LNG terminal in 2022.

PV Gas said in a statement it expects to launch the onshore LNG receiving terminal at Thi Vai in the coastal area southeast of Ho Chi Minh City in the third quarter of next year.

The government of Vietnam previously said that Vietnam would start importing LNG in 2022 in order to meet the country’s growing power demand.

This facility in the Ba Ria-Vung Tau province will have a capacity of 1 mtpa in its first phase, while the company plans to boost the capacity to 3 mtpa in the next stage.

According to the firm, the facility is currently about 90 percent complete. PV Gas is also working on the LNG truck station at Thi Vai and the connecting pipeline.

The firm says that it would supply about 70 percent of the regasified LNG to power plants and the rest to consumers such as petrochemical and industrial plants but also the transport sector.

Six LNG supply deals, additional projects

PV Gas says it has signed six LNG master sales and purchase agreements with suppliers, but the firm did not provide any additional information.

Besides the Thi Vai facility, the firm plans to build two other LNG projects.

In September, its signed a deal with US energy firm AES to build the Son My LNG import terminal in Vietnam.

PV Gas said the Son My LNG terminal is a part of a $1.3 billion LNG-to-power complex in the country’s province of Binh Thuan.

The first phase of the LNG import facility would have a capacity of about 3.6 million tonnes per year of LNG and would supply two power plants starting in 2025.

Also, PV Gas has a deal with PetroVietnam Power to supply the fuel to two LNG-powered plants.

PetroVietnam Power recently appointed a consortium of Techcombank and Military Bank to arrange syndicated loans worth $1.4 billion for the Nhon Trach 3 and 4 LNG-fueled plants with a total capacity of 1,500 megawatt (MW).

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

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