$264.4mn LNG terminal put into operation in southern Vietnam
$264.4mn LNG terminal put into operation in southern Vietnam
The Thi Vai liquefied natural gas (LNG) terminal in Ba Ria-Vung Tau Province, southern Vietnam, with a storage of 180,000 cubic meters and a total investment of VND6.5 trillion (US$264.4 million), was inaugurated on Sunday.
A bird’s-eye view of the Thi Vai LNG terminal in Ba Ria – Vung Tau Province, southern Vietnam. Photo: PV Gas |
Deputy Prime Minister Tran Luu Quang officiated at the ribbon-cutting ceremony to mark the occasion.
The terminal can handle an average of one million metric tons of LNG a year.
The LNG terminal, whose investor is PetroVietnam Gas Joint Stock Corporation (PV Gas), got off the ground in October 2019.
The facility encompasses an LNG storage tank, two LNG regasification systems with a maximum capacity of 171 metric tons per hour, an LNG charging station system, pipelines, and an automated control center.
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| An LNG storage tank at the Thi Vai LNG terminal in Ba Ria – Vung Tau Province, southern Vietnam. Photo: Dong Ha / Tuoi Tre |
PV Gas imported 70,000 metric tons of LNG worth VND830 billion ($34.1 million) in July to test the terminal’s operations.
PV Gas is the first and only firm in Vietnam to be certified as eligible to import and export LNG by the Ministry of Industry and Trade.
Pham Van Phong, CEO at PV Gas, said that LNG plays a key role in ensuring national power security, while demand for the use of gas for electricity is soaring.
The firm will start the second phase of the LNG Thi Vai terminal as soon as possible to raise its annual capacity to three million metric tons of LNG.
PV Gas is working to develop another LNG terminal in Binh Thuan Province, south-central Vietnam.
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| A ship transports LNG to the Thi Vai LNG terminal in Ba Ria – Vung Tau Province, southern Vietnam. Photo: Dong Ha / Tuoi Tre |
Speaking at the inauguration ceremony, Deputy PM Quang praised the investor and contractors for their efforts to complete the Thi Vai LNG terminal.
He affirmed that the establishment of the terminal significantly contributes to Vietnam’s energy transition strategy and sustainable development journey.
Vietnam is moving toward using no coal for power generation by 2050.
Putting the LNG terminal into service is expected to help the government accelerate the implementation of its commitment to achieving net-zero emissions by 2050.
Quang underscored that the government and the prime minister always throw support behind green projects, and create favorable conditions for firms to invest in sustainability-driven projects.
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| Deputy Prime Minister Tran Luu Quang speaks at an inauguration ceremony of the Thi Vai LNG terminal in Ba Ria – Vung Tau Province, southern Vietnam. Photo: Dong Ha / Tuoi Tre |
LNG is a natural gas, consisting mainly of methane. The gas is odorless, colorless, non-toxic, and non-corrosive.
Natural gas can be considered the least environmentally harmful fossil fuel.
Burning natural gas produces about 30 percent less carbon dioxide than burning petroleum, and some 45 percent less than burning coal.
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| Representatives cut a ribbon to start the official operation of the Thi Vai LNG terminal in Ba Ria – Vung Tau Province, southern Vietnam. Photo: Dong Ha / Tuoi Tre |
