Through the LNG cooperation, the Vietnamese company hopes to secure long-term LNG supplies for the country’s proposed LNG-powered plants.
Vietnam plans to build a fleet of 13 LNG-fired power plants by 2030, with the first one expected to start operating by the end of 2024.
With the US energy major ExxonMobil, PetroVietnam Gas discussed the potential for LNG supplies for its Thi Vai LNG Terminal, which is located in southern Vietnam.
The two businesses also discussed potential upstream project collaboration options, PetroVietnam Gas said.
“ExxonMobil is evaluating various LNG supply opportunities in Southeast Asia, including Vietnam,” ExxonMobil told the news agency in an emailed statement.
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Separately PetroVietnam Gas also met with officials of Russia’s Novatek, which the Vietnamese company claimed, is interested in providing it with LNG for the years 2023–2026.
“Boosting trade and investment ties with such global energy leaders as ExxonMobil and Novatek is the key for the development of PetroVietnam Gas and for the country’s gas industry,” PetroVietnam Gas’ statement read.
In an email, Novatek said it is “keen to cooperate with Vietnamese businesses on LNG, given Vietnam’s growing market and long-term vision to develop gas-fired power generation and infrastructure projects that comprise LNG-to-power facilities and LNG regasification terminals.”
Located in the Ba Ria Vung Tau province, the Thi Vai LNG Terminal will primarily cater to two LNG-powered plants.
With a combined capacity of 1.5 gigawatts, those plants are being constructed in the adjoining province of Dong Nai by PetroVietnam Power.