Business

PV Gas, US corporation move to implement Son My LNG port warehouse project

The PetroVietnam Gas Joint Stock Corporation (PV GAS) and US-based AES Corporation signed a joint venture agreement on the establishment and operation of Son My LNG port warehouse limited company in New York on September 22 (local time).
PV Gas, US corporation move to implement Son My LNG port warehouse project ảnh 1PV GAS, AES exchange joint venture agreement on the establishment and operation of Son My LNG port warehouse limited company (Photo: VNA)
Hanoi (VNA) –The PetroVietnam Gas Joint Stock Corporation (PVGAS) and US-based AES Corporation signed a joint venture agreement on theestablishment and operation of Son My LNG port warehouse limited company in NewYork on September 22 (local time).

The signing ceremony was witnessed by President Nguyen XuanPhuc who is on New York to attend the general debate of the 76th session of theUnited Nations General Assembly (UNGA).

The joint venture agreement was based on the main terms ofthe joint venture contract of Son My LNG (liquefied gas) port warehouse projectsigned in October 2020.

The Son My LNG port warehouse is one among a series of LNGpower projects in the south central province of Binh Thuan, with an estimatedtotal investment of 1.31 billion USD, and a capacity of 3.6 million tonnes ayear in the first phase and up to 9 million tonnes in the next phase.

The port will receive, process and supply LNG reprocessed asfuel for Son My 1 and Son My 2 power plants, expected to be put into operation bythe end of 2025.

Speaking at the signing ceremony, President Phuc said thatthe project has drawn attention of both Vietnam and the US.

The two corporations’ formation of the Son My LNG portwarehouse limited company to carry out the construction of the Son My LNG portwarehouse project will contribute to ensuring reprocessed LNG to serve powerdemand of the key southern economic zone in particular and Vietnam in general.

The signatories pledged to conduct procedures to put thecompany into operation in November./.
VNA
#PV GAS #Son My LNG port warehouse limited company #AES #President Nguyen Xuan Phuc #Vietnam #US #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Vietnam may attract 30 billion USD in FDI this year: experts

Vietnam may attract 30 billion USD in FDI this year: experts

Vietnam may attract about 30 billion USD in foreign direct investment (FDI) in 2021, posting a year-on-year rise of 2 percent, economists forecast, pointing to positive signs in FDI attraction in the first eight months of 2021 despite the complexities of COVID-19.

See more

Industrial production surges in the first two months of 2026. (Photo: VNA)

Industrial production posts strong growth in first two months

According to the National Statistics Office (NSO) under the Ministry of Finance, the index of industrial production (IIP) in February was estimated to decrease 18.4% from the previous month but increase 1% year on year. Overall, in the January–February period, the IIP rose 10.4% compared with the same period last year.

A delegation from the Nghe An provincial People’s Committee inspects production and business activities at the VSIP Nghe An Industrial, Urban and Service Park. (Photo:nhandan.vn)

Nghe An steps up reforms to attract FDI

In 2025, the provincial People’s Committee licensed 25 new FDI projects and approved capital adjustments for 20 others, bringing the total newly registered and additional investment to more than 1 billion USD. Many large-scale projects in the Southeast Nghe An Economic Zone have already become operational, contributing to export growth, state budget revenues and job creation.

Nearly 35,500 enterprises are newly registered nationwide, with total registered capital reaching nearly 313.7 trillion VND and more than 167,500 registered workers. (Photo: VNA)

Nearly 35,500 new businesses set up in first two months

The enterprises registered combined capital of about 313.7 trillion VND and more than 167,500 employees. Compared with the same period last year, the number of new businesses surged by 70.7%, while registered capital rose by 36.1% and registered labour increased by 19.1%.

The yarn factory of Unitex Textile and Dyeing Company Limited applies new technology to optimise operations using an automated model. (Photo: VNA)

Resolution 68: International lessons for private sector development

A common feature in many successful economies is a fundamental shift in the perception of private enterprises. In countries such as Singapore, Germany, Republic of Korea (RoK) and China, private firms are viewed not mainly as entities requiring strict control but as development partners and key forces generating growth, jobs and innovation.

The production line of Regza Electronics Vietnam Co., Ltd. located in Dong Nai province. (Photo: VNA)

Vietnam’s overseas investment rises 2.3-fold in first two months

During the period, 36 new overseas projects were granted investment certificates with total registered capital from Vietnamese investors reaching 532.4 million USD, up 2.3 times compared to the same period last year. In addition, three projects adjusted their capital with an additional 7.8 million USD, 1.5 times higher than a year earlier.

Workers of PTSC Thanh Hoa check the system for crude oil imports. Vietnam saw strong increase in fuel imports in the first two months of this year. (Photo" VNA)

Vietnam records strong increase in fuel imports in two months

Statistics of Vietnam Customs showed that Vietnam spent more than 1.44 billion USD importing 2.18 million tonnes of petroleum products in the first two months of this year, representing a sharp increase of 31.4% and 43%, respectively, over the same period last year.

Prime Minister Pham Minh Chinh visits a macadamia cultivation model in Huoi Tao B village, Pu Nhi commune, Dien Bien province on March 8. (Photo: VNA)

PM requests boosting agricultural development in Northwestern region

PM Chinh encouraged local residents to explore additional crops and livestock suitable for intercropping in order to maximise land use efficiency. Farmers were also urged to strengthen cooperation with one another and with businesses by joining cooperatives, consolidating land resources and working together to expand production and improve incomes.

Farmers in the Mekong Delta province of An Giang harvest rice grown under the project 'Sustainable Development of One Million Hectares of High-Quality, Low-Emission Rice Associated with Green Growth in the Mekong Delta by 2030.' (Photo: VNA)

Promoting high-quality rice exports amid mounting challenges

According to the Ministry of Agriculture and Environment (MAE), an estimated 600,000 tonnes of rice worth 370 million USD was exported in January, up 12.4% in volume and 16.9% in value year-on-year. The average export price reached 616.6 USD per tonne, up 4%.