PV GAS QatarEnergy LNG finalized first LNG deal for 2024
On March 11, 2024, Petrovietnam Gas Corporation (PV GAS) signed the Confirmation Notice with QatarEnergy LNG to buy the first LNG cargo for 2024. Approximately 3.2 million mmBTU (~ 63,000 tons) of LNG will be delivered to Thi Vai LNG Terminal, expectedly on April 12-13, 2024, to serve industrials’ demand, contributing to Vietnam’s energy security when the country enters the dry season.
Standard LNG vessel (source: Internet)
Prior to this, PV GAS issued an international invitation to quote and received the interest of LNG giants worldwide. PV GAS' LNG procurement process has been designed, reported to the Authorities, and implemented in strict compliance with current laws and regulations. After the Corporation’s evaluation, QatarEnergy LNG was selected as the supplier for the first LNG cargo in 2024.
QatarEnergy LNG, a unit of QatarEnergy Group, is the world's largest LNG producer with a total output of 77 MMTPA, accounting for about 1/5 of global production.
Thi Vai LNG Terminal, with a capacity of 1 MMTPA, underwent commissioning from April 2023, and received its first LNG shipment in July 2023. It is up to now the first and only LNG terminal operational in Vietnam.
The import shipment from QatarEnergy LNG in early April 2024 is projected to timely fuel the peaking energy demand in 2024’s summer. As the first and only LNG importer and exporter in Vietnam to date (certified by the Ministry of Industry and Trade), PV GAS continues to assert its pioneering position in Vietnam’s gas industry, demonstrating its responsibility to contributing to national energy security and economy development.