Business

PV GAS, AES Corporation sign deal on Son My LNG import terminal project

The PetroVietnam Gas Joint Stock Company (PV GAS) and the US-based AES Corporation have signed the term sheet of the joint venture agreement for the development of the Son My LNG Import Terminal Project - a project with a total investment cost of 1.4 billion USD.
PV GAS, AES Corporation sign deal on Son My LNG import terminal project ảnh 1The online signing of the term sheet of the joint venture agreement for the development of the Son My LNG Import Terminal Project on October 28 (Photo: VNA)


Hanoi (VNA) – The PetroVietnam Gas Joint Stock Company (PV GAS) and the US-based AESCorporation have signed the term sheet of the joint venture agreement for thedevelopment of the Son My LNG Import Terminal Project - a project with a totalinvestment cost of 1.4 billion USD. 

Thissigning, which was held virtually on October 28 on the sidelines of theIndo-Pacific Business Forum, came near the one-year anniversary of the historic agreement the AES Corporationsigned with the Vietnamese government to build the 1.8-billion-USD Son My 2 combinedcycle gas turbine (CCGT) power plant.

PV GASGeneral Director Duong Manh Son and Executive Vice President and ChiefOperating Officer of the AES Corporation Bernerd Da Santos inked the deal underthe witness of officials from the Vietnamese and US governments.

The Son My LNG ImportTerminal Project will help meet the demand for gas and power in the southernkey economic region and the whole country in general, thereby ensuring nationalenergy security, Son said.

The Son My LNG Import Terminal Project will be located in the southcentral province of Binh Thuan with the total capacity of up to 450 TBtu, to supplygas to newly built gas-fired power plants of about 4,500 MW, other existinggas-fired power plants, and industrial customers. Together, the 2.2 gigawattspower plant and terminal will play a major role in shaping Vietnam’s energyfuture by diversifying the energy mix with imported LNG as well as meeting thecountry’s increasing demand for sustainable and affordable electricity./.

VNA
#PetroVietnam #PV GAS #AES Corporation #Son My LNG Import Terminal Project #Indo-Pacific Business Forum #gas-fired power plants #Binh Thuan #updated Vietnam news #Vietnamplus #Vietnam News Agency
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