LNG supply agreements to key power projects signed

LNG supply agreements to key power projects signed

State-owned giants Vietnam Electricity Group (EVN), Vietnam Gas Corporation (PV GAS) and Vietnam Oil and Gas Power Corporation (PV Power) on Friday signed crucial agreements on the supply of liquefied natural gas (LNG) for large-scale gas-fired power projects.

A view of the signing ceremony. — Photo pvgas.com.vn

Accordingly, PV GAS and EVN signed a framework agreement on the supply of regasified LNG from the Vũng Áng LNG Terminal to the Quảng Trạch 2 & 3 power plants, due on April 30, 2029.

PV GAS and PV Power signed an addendum to the LNG trading contract for the Nhơn Trạch 3 & 4 power plants.

Speaking at the signing ceremony, EVN General Director Nguyễn Anh Tuấn said that the signing of the agreements has a significant importance in ensuring long-term fuel sources for LNG power projects, especially in the context of declining domestic gas resources and continued power growth. EVN identifies LNG as a crucial fuel source, contributing to enhancing the flexibility of the power system, supporting the integration of renewable energy, and ensuring the stable operation of the national power system.

For the 3,000MW Quảng Trạch 2&3 power plants, EVN commits to closely coordinating with PV GAS to implement the agreement effectively, ensuring progress, safety, and compliance with legal regulations, Tuấn said.

PV GAS Chairman Nguyễn Thanh Bình affirmed that the signing of the addendum is a strategic step towards making imported LNG a primary fuel source for gas-fired power plants.

In the context of complex geopolitical conditions and declining domestic gas resources, LNG is not only a supplementary source but will increasingly account for a larger share of the country’s total energy, Bình said. 

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