PV Gas has inaugurated its $300-million LNG Thi Vai terminal with an annual capacity of one million tons, the first and biggest such facility in Vietnam.
Deputy Prime Minister Tran Luu Quang said at the inauguration ceremony Sunday that the terminal in the southern coastal province of Ba Ria-Vung Tau would facilitate the import of LNG into Vietnam and was a major step the country has taken to join the global LNG sector and transition to a green and sustainable economy.
PV Gas, a member of state-owned Petrovietnam and listed on the Ho Chi Minh Stock Exchange (HoSE) as GAS, started construction of the facility in October 2019. The terminal was constructed by Samsung C&T and Petrovietnam’s technical arm PTSC.
The facility has a 180,000 cubic meter tank whose capacity can be expanded from one million to three million tons in the second phase. It is also capable of accommodating ships of up to 100,000 deadweight tonnages, delivering LNG via road in tankers and connecting with the LNG Thi Vai-Phu My pipepline.
Per Vietnam’s latest power development plan VIII (PDP VIII) LNG-fired power will account for 22,400 MW, or 15% of Vietnam’s electricity output by 2030, Quang noted.
To meet the target, the Deputy PM asked Petrovietnam and PV Gas to speed up progress on several major projects including the Nhon Trach 3 and Nhon Trach 4 LNG-to-power plants; LNG Thi Vai terminal expansion; and LNG-to-power Son My power center. He assured that the government would facilitate the implementation of these projects.
PV Gas CEO Pham Van Phong requested the government to support the firm in deploying the terminal’s second phase expansion that is supposed to begin in 2027.