First LNG Vessel propelled Vietnam Into Global LNG Map
By pioneering the importation of liquefied natural gas (LNG), PV GAS has officially placed Vietnam on the world's LNG map. In recent days, global energy experts have acknowledged Vietnam's emergence as a “newcomer” in the global LNG market, in the face predictions and concerns about price barriers and the ability to secure long-term contracts.
Energy giant Shell has noted "remarkable going up" in the LNG market over the past two months, emphasizing that three countries, including Vietnam, are the main drivers of this growth. Meanwhile, Russia's Sputnik news agency has stated that Vietnam is becoming a lucrative and promising market for gas suppliers. Currently, at least two major corporations, including NOVATEK and ExxonMobil, are working with PV GAS to explore LNG supply opportunities for Vietnam.
According to PDP8, LNG-based power source ("LNG gas") is expected to represent over 14.9% of the total national power system capacity by 2030. This source is crucial for guaranteeing the stability, adequacy, and safety of the national power system.
PV GAS deeply understands the role and importance of LNG. Being a pioneer in LNG imports, PV GAS has contributed to ensuring the national energy security and promoting the development of domestic industries. The historic first LNG vessel arrival at Thi Vai has resonated across the global energy market, showcasing PV GAS' impressive capabilities as a leading enterprise in Vietnam's gas industry.
The first LNG ship has propelled Vietnam in the global LNG market
In the near future, PV GAS is set to achieve another historic milestone: the inauguration of the national key project – the 1 million-ton Thi Vai LNG Terminal. The terminal has been confirmed to meet all domestic and international standards, as well as safety and maritime operational requirements, worth high praise for its detailed, feasible, and seamless operations.
Overview of PV GAS Vung Tau Terminal, including Thi Vai LNG Terminal
In addition to constructing the 1 MMTPA Thi Vai LNG Terminal, PV GAS is also investing in Son My LNG Terminal, with an anticipated total capacity of up to 10 MTPA upon completion. In light of that, PV GAS' LNG infrastructure will fundamentally meet the energy needs of the Southern region.
PV GAS is making incremental efforts to realize its strategic plan, including the 1 MMTPA Thi Vai LNG Terminal, Son My LNG Terminal, and a similar LNG terminal project in the Northern region. With thorough and meticulous strategy, the LNG terminal project series is expected to help PV GAS demonstrate its market responsiveness, acting as a lever enabling Vietnam to make a mark in the regional and global market.