PetroVietnam to start importing LNG in 2022

PetroVietnam Gas (PV Gas), a unit of state-run PetroVietnam, expects to start importing LNG next year, it said on November 12.

“With the goal of ensuring the safe and efficient import, storage and distribution of LNG, PV Gas is trying to perfect the infrastructure system. The goal is to start importing LNG from 2022 to compensate for the declining domestic gas source, proactively supply, promote the development of the gas/LNG market in Vietnam,” it said.

PV Gas said that 90% of the work at the 1mn metric ton/year Thi Vai LNG terminal has been completed, and the project is expected to be commissioned in the third quarter of 2022. The company said it is looking at stable short and medium-term LNG supplies and has signed six sale and purchase agreements with suppliers.

Vietnam is promoting gas-fired power as it moves away from coal and oil-based generation.