Vietnam's First Terminal Expected Online by Late-2020: Report

Vietnam’s first LNG import terminal is expected to be operational by late-2020, VnExpress International reported August 1.

Work on the Thi Vai LNG terminal could begin early 2019 after tenders are issued for the project in October or November this year, said Pham Van Phong, director of LNG Vietnam. The feasibility study and front-end engineering design (Feed) for the Thi Vai LNG terminal located in the southern province of Ba Ria-Vung Tau, has been completed, he said.

LNG Vietnam was established in August 2016. PV Gas holds 51% stake in LNG Vietnam, Bitexco owns 39% and Tokyo Gas 10%. Demand for gas in expanding rapidly in Southeast Asia and Vietnam is no exception. LNG is in demand as an energy source for industrial parks around Ho Chi Minh City in the country's south. 

Under the revised National Power Development Plan VII, Vietnam is looking to increase its total power generation capacity to around 129.5 GW by 2030. Of this 19 GW will come from power plants fired by gas, the newspaper said.