American corporation AES and Vietnam's PV Gas on Wednesday received an investment registration certificate for their $1.4 bln LNG terminal project in Binh Thuan province.
Minister of Investment and Planning Nguyen Chi Dung handed over the certificate to AES Executive Vice President and CEO Bernerd Da Santos, and PV Gas Chairman and CEO Hoang Van Quang at a ceremony in Washington D.C., with the witness of visiting Prime Minister Pham Minh Chinh and U.S. Secretary of Commerce Gina Raimondo.
The Son My LNG terminal in the south central province of Binh Thuan will have an installed capacity of 450 trillion British thermal units (TBtu). It is expected to achieve financial completion in 2023 and begin commercial operations by 2026.
"This is an important milestone for the development of the Son My LNG terminal project, which will supply LNG to southern Vietnam and play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG," said David Stone, President of AES Vietnam.
The terminal will receive, process and supply LNG reprocessed as fuel for Son My 1 and Son My 2 power plants.
AES Corporation is an American Fortune 500 company that generates and distributes electricity. It is the investor of the Mong Duong 2 thermal power plant in Quang Ninh province. PV Gas is a subsidiary of the state-run Petrovietnam.