PV GAS inaugurates Vietnam’s first LNG terminal

Over the previous three many years, PV GAS has all the time maintained its main place in Vietnam’s fuel business because the flagship of Vietnam Oil & Fuel Group (Petrovietnam). After round 16 years because it was simply an thought on the desk, the 1 million tpy Thi Vai LNG terminal has been formally put into operation, which is the last word results of PV GAS’ efforts on the inexperienced power journey in direction of the sustainable growth of the South-East Asia nation.

In his opening speech, Dr Pham Van Phong, PV GAS’ President and CEO, shared the method of implementing the challenge and expressed profound gratitude to the Communist Social gathering, Governmental and Provincial leaders, Central and Native ministries and sectors, in addition to PVN for his or her steady help and facilitation. Notably, he additionally drastically appreciated the relentless dedication of PV GAS’ leaders and staff through the previous 16 years.

The 1 million tpy Thi Vai LNG terminal is a part of PV GAS’ journey of realising Decision 55 issued by the Politburo on 11 February 2020, relating to the path of Vietnam’s Nationwide Vitality Growth Technique till 2030, with a imaginative and prescient to 2045, relating to nationwide power safety. Particularly, for the fuel business, the Decision emphasises: “Give precedence to funding in technical infrastructure for the importation and consumption of LNG”, in addition to “Deal with the speedy growth of gas-fired energy plant utilizing LNG in order that it progressively develop into an vital energy provide supply supporting the regulation of nationwide energy system”.

With this Vietnam’s first LNG import infrastructure in place, PV GAS may have extra management over the fuel provide to fulfill the power wants of current energy crops and households, contributing to making sure nationwide power safety and decreasing environmental air pollution in keeping with the federal government’s commitments at COP26 and the worldwide shift in direction of inexperienced power.

Within the coming time, PV GAS hopes for the continued consideration, help, and steering from the Social gathering, particularly from the Authorities and Central ministries and sectors, in perfecting authorized paperwork and coverage mechanisms for the event of the LNG business. On the identical time, PV GAS is heading in direction of the implementation of the terminal’s Part 2, with a rise in its capability to three million tpy from 2027.

In the course of the ceremony, Kim Jungwook, President of World Operations at Samsung C&T, on behalf the EPC consortium, acknowledged: “Primarily based on the power growth panorama in Vietnam amidst the worldwide power transition development, I consider this enlargement and improve is certainly needed for the close to future.”

Central Social gathering Committee Member and Deputy Prime Minister, Tran Luu Quang, affirmed that the 1 million tpy Thi Vai LNG Terminal was an vital challenge contributing to the success of the Social gathering and State’s path and planning for the nation’s power growth in direction of sustainability. PV GAS had paved the best way for the introduction of LNG into Vietnam, formally placing the nation on the worldwide LNG map and marking a vital step within the power transition course of.

The Deputy Prime Minister additionally gave instructions and orientations for Petrovietnam/PV GAS to expedite the development of Nhon Trach 3 and 4 energy crops to combine the complete LNG Thi Vai LNG-to-Energy chain into operation synchronously. He additional inspired continued analysis and funding for the terminal’s Part 2. Concurrently, he emphasised the necessity to speed up investments in Son My LNG-to-Energy chain and different key petroleum initiatives. Moreover, the Deputy Prime Minister pledged that the Authorities would all the time accompany, facilitate, and supply essentially the most beneficial situations to help PVN/PV GAS in creating petroleum power initiatives, particularly these specializing in inexperienced and sustainable growth, aligning with the Social gathering’s pointers and the insurance policies and legal guidelines of the State.

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