PetroVietnam Gas Signs Deal for First LNG Cargo from Shell Eastern Trading

(Reuters) — PetroVietnam Gas said on Tuesday it had signed a contract to buy Vietnam's first LNG cargo from Singapore-based Shell Eastern Trading.

The cargo is for test running PetroVietnam Gas's LNG terminal in the southern province of Ba Ria Vung Tau, the company said in a statement.

It did not provide the size of the cargo nor the price for the LNG.

Last month, the company issued a tender seeking to buy Vietnam's first LNG cargo of 50,000 tonnes to 70,000 tonnes.

The Thi Vai LNG Terminal will primarily supply two gas-fired power plants with a combined capacity of 1.5 gigawatts now being built in the neighboring province of Dong Nai by PetroVietnam Power Corp. at a cost of $1.4 billion.

The cargo marks a milestone on the Southeast Asian nation's route to becoming a key LNG importer.

Vietnam plans to develop a fleet of LNG-fired power plants with a combined capacity of 22.4 gigawatts by 2030, accounting for 14.9% of the country's total power generation mix.

Related News


{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}