PetroVietnam Gas to start Thi Vai LNG import terminal

PetroVietnam Gas, a unit of state-owned PetroVietnam, on May 8 announced that it will start operations at the Thi Vai LNG import terminal in south Vietnam later this year.

The terminal will have a capacity of 1mn metric tons/year in the first phase. In phase two the capacity will increase to 3mn mt/year. PetroVietnam Gas on May 5 got approval from the government to import LNG.

Reuters last month reported that PetroVietnam Gas has issued a tender seeking to buy Vietnam's first cargo of 50,000 mt to 70,000 mt of LNG.  

The terminal was expected to start last year but the commissioning got delayed. The company previously 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.