PV Gas announced the signing of the agreement in a statement on Friday.
According to PV Gas, the supply of regasified LNG would come from its planned North Central LNG terminal project, which will be located in the Vung Ang Economic Zone.
The first phase of the terminal will have a capacity of up to 3 mtpa of LNG per year, with a total investment of approximately 26.7 trillion Vietnamese dong ($1 billion).
PV Gas said that the supplies to the Quang Trach II and Quang Trach III thermal power plants are expected to begin on April 30, 2029.
The company did not provide further details.
In October 2024, PV Gas and EVN signed a memorandum of understanding for LNG supplies to the Quang Trach II LNG power plant.
In February this year, EVN awarded an EPC contract to a consortium of PowerChina and Lilama for its Quang Trach II LNG power plant in the province of Quang Binh.
The contract is worth 25.2 trillion Vietnamese dong ($973 million).
The LNG power plant will have a capacity of 1,612 MW, consisting of two 806 MW units.
The project consists of two components and its total investment will reach 52,490 billion dong ($2 billion).
The first is the power plant, using the combined cycle gas turbine (CCGT) technology, with a total investment of 40,123 billion dong, while the second comprises the LNG storage facility and jetty, with an estimated investment of 11,800 billion dong.
Nhon Trach 3 & 4 power plants
In addition to this deal with EVN, PV Gas signed an addendum to a long-term LNG sales contract with PV Power, also a PetroVietnam subsidiary, to supply fuel for Nhon Trach 3 and 4 power plants, Vietnam’s first LNG-to-power project.
PV Gas did not provide further information.
Last year, the two firms signed a 25-year LNG supply deal for the two power plants.
PV Power launched commercial operations at its Nhon Trach 3 and 4 LNG power plants in December last year.
Vietnam’s first LNG power plants have a total capacity of 1.6 GW.
PV Gas supplies the fuel from its Thi Vai LNG terminal.
PV Gas launched its Thi Vai LNG terminal on October 29, 2023, after nearly 4 years of construction and commissioning.
This is Vietnam’s first LNG import terminal.
