On October 29, the Thi Vai Liquefied Natural Gas (LNG) receiving terminal project with a capacity of 1 million tons was inaugurated and put into operation in Ba Ria - Vung Tau Province, Viet Nam.
The project is financed by Petrovietnam Gas Joint Stock Corporation (PV GAS), a subsidiary of Viet Nam Oil and Gas Group (Petrovietnam), in cooperation with joint ventures Samsung C&T Corporation and Petrovietnam Technical Services Corporation (PTSC).
The LNG receiving terminal is the largest and most advanced in Viet Nam and includes facilities capable of handling vessels of up to 100,000 deadweight tons (DWT), 180,000 cubic meters of storage tanks, a gas pipeline system, and a complex operations center.
In its initial phase, the terminal will have an LNG storage capacity of 1 million tons per year, which will be expanded to 3 million tons at a later stage. Its LNG deliquefaction is capable of reaching 171 tons per hour. LNG from this facility will be distributed to customers via pipelines, tankers or satellite storage facilities.
The Thi Vai LNG Terminal is part of the implementation of Resolution 55 issued by the Vietnamese Politburo on February 11, 2020. The Resolution focuses on the direction of Viet Nam's National Energy Development Strategy until 2030, with a vision until 2045. The main focus of this resolution is to achieve national energy security. On the other hand, its operation will also support the Government's commitment to achieve zero net emissions by 2050.
During the inauguration ceremony, Deputy Prime Minister Tran Luu Quang emphasized that Viet Nam has worked hard in recent years to develop a modern and efficient energy infrastructure. According to him, natural gas and gas products are one of the clean, safe, efficient and convenient energy sources.
With a number of gas infrastructure facilities already in operation, such as the Ca Mau and Phu My gas-powered fertilizer complexes and the soon-to-be-completed B-O Mon Block gas project, Petrovietnam, and PV GAS are expected to continue to make important contributions to local revenues, job creation, and economic restructuring.
Quang described the Thi Vai LNG Terminal as an important facility that supports the Government's policy of national energy development and energy transition. He also urged Petrovietnam and its subsidiaries to speed up construction so that the LNG project can come on stream on schedule and help achieve national targets for LNG development.
Quang also stressed the need to accelerate investment in the Son My LNG-to-power supply chain and other key oil projects. This reflects the Government's commitment to support the development of petroleum energy projects that focus on environmental and sustainable aspects.