PV GAS inaugurates Vietnam’s first LNG terminal

Oct 31, 2023

On 29 October 2023, at Cai Mep Industrial Park, Phu My Town, Ba Ria – Vung Tau, PetroVietnam Gas Corporation (PV GAS) held a ceremony to inaugurate the 1 million tpy Thi Vai LNG terminal. Politburo member, Prime Minister, Pham Minh Chinh, sent a bouquet of flowers as a token of his congratulations on PV GAS’ historic milestone. At the ceremony, Member of the Central Party Committee, Deputy Prime Minister Tran Luu Quang, delivered guidance speech and joined the ribbon-cutting ceremony.

Over the past three decades, PV GAS has always maintained its leading position in Vietnam’s gas industry as the flagship of Vietnam Oil & Gas Group (Petrovietnam). After around 16 years since it was just an idea on the table, the 1 million tpy Thi Vai LNG terminal has been officially put into operation, which is the ultimate result of PV GAS’ efforts on the green energy journey towards the sustainable development of the South-East Asia nation.

In his opening speech, Dr Pham Van Phong, PV GAS’ President and CEO, shared the process of implementing the project and expressed profound gratitude to the Communist Party, Governmental and Provincial leaders, Central and Local ministries and sectors, as well as PVN for their continuous support and facilitation. Particularly, he also greatly appreciated the relentless dedication of PV GAS’ leaders and employees during the past 16 years.

The 1 million tpy Thi Vai LNG terminal is part of PV GAS’ journey of realising Resolution 55 issued by the Politburo on 11 February 2020, regarding the direction of Vietnam’s National Energy Development Strategy until 2030, with a vision to 2045, regarding national energy security. Specifically, for the gas industry, the Resolution emphasises: “Give priority to investment in technical infrastructure for the importation and consumption of LNG”, as well as “Focus on the rapid development of gas-fired power plant using LNG so that it gradually become an important power supply source supporting the regulation of national power system”.

With this Vietnam’s first LNG import infrastructure in place, PV GAS will have more control over the gas supply to meet the energy needs of existing power plants and households, contributing to ensuring national energy security and reducing environmental pollution in line with the government’s commitments at COP26 and the global shift towards green energy.

In the coming time, PV GAS hopes for the continued attention, support, and guidance from the Party, especially from the Government and Central ministries and sectors, in perfecting legal documents and policy mechanisms for the development of the LNG industry. At the same time, PV GAS is heading towards the implementation of the terminal’s Phase 2, with an increase in its capacity to 3 million tpy from 2027.

During the ceremony, Kim Jungwook, President of Global Operations at Samsung C&T, on behalf the EPC consortium, stated: “Based on the energy development landscape in Vietnam amidst the global energy transition trend, I believe this expansion and upgrade is indeed necessary for the near future.”

Central Party Committee Member and Deputy Prime Minister, Tran Luu Quang, affirmed that the 1 million tpy Thi Vai LNG Terminal was an important project contributing to the success of the Party and State’s direction and planning for the country’s energy development towards sustainability. PV GAS had paved the way for the introduction of LNG into Vietnam, officially putting the country on the global LNG map and marking a crucial step in the energy transition process.

The Deputy Prime Minister also gave directions and orientations for Petrovietnam/PV GAS to expedite the construction of Nhon Trach 3 and 4 power plants to integrate the entire LNG Thi Vai LNG-to-Power chain into operation synchronously. He further encouraged continued research and investment for the terminal’s Phase 2. Simultaneously, he emphasised the need to accelerate investments in Son My LNG-to-Power chain and other key petroleum projects. Additionally, the Deputy Prime Minister pledged that the Government would always accompany, facilitate, and provide the most favourable conditions to support PVN/PV GAS in developing petroleum energy projects, especially those focusing on green and sustainable development, aligning with the Party’s guidelines and the policies and laws of the State.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31102023/pv-gas-inaugurates-vietnams-first-lng-terminal/

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