USA-based firm to co-develop Northern Vietnam LNG terminal with ITECO 

USA-based Excelerate Energy has signed a term sheet with ITECO Joint Stock Company to co-develop a greenfield LNG import terminal in Haiphong, Vietnam. This terminal, known as the Northern Vietnam LNG terminal (NVLT), is expected to have a total import capacity of 1.2 million tonnes per annum (mtpa) and will be constructed in two phases. The first phase, with an estimated capacity of 0.7 mtpa, is expected to begin operations in 2027.

The NVLT aims to significantly enhance energy infrastructure in northern Vietnam, meeting the growing energy demands of the region. The initial development plan, formulated with the involvement of ITECO and JAPEX, included constructing a 50,000 cubic meter LNG storage tank capable of handling up to 650,000 metric tonnes of LNG annually, along with associated jetty facilities.