Vietnam seeks first LNG cargo to commission import terminal

SINGAPORE/HANOI: PetroVietnam Gas has issued a tender seeking to buy Vietnam’s first cargo of 50,000 tonnes to 70,000 tonnes of liquefied natural gas (LNG) as it prepares to commission a southern import terminal, two sources said on Friday.

Vietnam, a manufacturing powerhouse that generates most of its electricity from coal, is drafting a new power plan that aims to boost its installed LNG-fired power generation capacity to up to 24.5 gigawatts by 2030.

The cargo is sought on a delivered ex-ship (DES) basis for delivery between June 1 to July 31, the sources said, adding that the tender will close on May 11.

3 more LNG spot cargoes: Power Div silent on purchase proposal

The Thi Vai LNG Terminal in the province of Ba Ria Vung Tau will supply two gas-fired power plants being built in the neighbouring province of Dong Nai.

PetroVietnam Gas has said the terminal is expected to supply between 680,000 tonnes and 850,000 tonnes of LNG each year during the period from 2023 to 2027.