Construction on Vietnam’s first LNG terminal to begin in October 2019

PetroVietnam Gas Corporation (PV Gas), the state-owned energy company, started construction of the country’s first LNG import terminal in late October 2019. The Thi Vai LNG terminal, which will be built in Ba Ria-Vung Tau province, will supply natural gas to PetroVietnam Power’s proposed Nhon Trach 3 and Nhon Trach 4 power plants. The facility will produce 1 mtpa of LNG after its first phase is completed in 2022 at an estimated cost of $286 million. The capacity is expected to triple in the second phase by 2023. PV Gas awarded an engineering, procurement and construction contract to build the terminal to South Korea’s Samsung C&T Corporation and PetroVietnam Technical Services in June 2019. This will be the beginning of the country’s plan to build six LNG terminals at a total cost of more than $6 billion by 2035.