This was revealed during a meeting between officials from PetroVietnam and PetroVietnam Gas on February 3, according to a statement by PetroVietnam.
South Korea’s Samsung C&T and PTSC, a unit of PV Gas, built the Thi Vai LNG terminal in the coastal area southeast of Ho Chi Minh City.
Launched in 2023, Vietnam’s first LNG import facility currently has a capacity of 1 mtpa, and it consists of one 180,000-cbm LNG tank, a jetty, and a regas area.
The expansion will triple the capacity to 3 mtpa.
PetroVietnam urged its unit PV Gas to accelerate the development of the LNG terminal’s capacity expansion, according to the statement.
PV Gas has almost completed the preparations for the expansion and is “ready” to sign an engineering, procurement, and construction (EPC) contract by the end of 2025, the statement said.
The company is also studying to invest in floating LNG storage to increase supply for the southeastern region, it said.
Last month, PV Gas launched a tender inviting firms to submit bids for four spot LNG cargoes for delivery to the Thi Vai LNG import terminal.
The company is also working with PV Power to sign the final gas supply agreement for Nhon Trach 3 and 4 plants, which are expected to enter commercial operations this year.
In November last year, PV Gas signed a contract with PV Power to supply the commissioning LNG cargo for the latter’s Nhon Trach 3 and Nhon Trach 4 power plants.
PV Power recently said that its Nhon Trach 3 LNG power plant is ready to start generating electricity for the national grid.
