ietnam’s surging natural gas demand has caused the GoV to consider importing gas via LNG to fuel power plants in the southern region. PV Gas signed a front-end engineering and development (FEED) contract and a memorandum of understanding with Tokyo Gas Company to develop the Thi Vai LNG terminal in the Vung Tau province. PV Gas proposes building the terminal in two phases. The first phase is reported to bring 50 to 150 Bcf/y online by 2015 and possibly expand to at least 380 Bcf/y by 2025, according to government sources. PV Gas intends to import gas from Australia, Russia, or Qatar and is currently in talks with QatarGas over a supply agreement for the first phase. The Hiep Phuoc Power plant signed an MOU as the key customer of the LNG.
The GoV approved the construction for a regasification terminal in the south central province of Binh Thuan in 2011. The Binh Thuan terminal is reported to have a capacity of up to 150 Bcf/y and is scheduled to commence operation around 2018.
PV Gas also plans to construct a 50 Bcf/y offshore and floating storage and regasification unit in Vung Tau by 2013. However, the company has yet to secure government approval and supply arrangements. PV Gas intends to use an aggregator to purchase spot cargoes for the facility. Vietnam is considering development of other LNG terminals in northern and central areas of the country, although, these plans are on hold until more gas infrastructure is in place.