RoK's firm penetrates LPG market in Vietnam​

E1, an importer and distributor of liquefied petroleum gas (LPG) under the Republic of Korea’s LS Group. announced on February 21 that it has signed a joint contract with Venus Gas, the largest LPG importer in northern Vietnam, to build an LPG terminal in Bac Tien Phong industrial complex in Vietnam's northern coastal province of Quang Ninh.
RoK's firm penetrates LPG market in Vietnam​ ảnh 1RoK's E1 and Vietnam's Venus Gas plan to build an LPG terminal in Bac Tien Phong industrial complex in Quang Ninh (Photo:e1.co.kr)

Seoul (VNA) – E1, an importer and distributor of liquefied petroleumgas (LPG) under the Republic of Korea’s LS Group. announced on February 21 that it has signed a joint contract with Venus Gas, thelargest LPG importer in northern Vietnam, to build an LPG terminal in Bac Tien Phong industrial complex in Vietnam's northern coastal province of Quang Ninh.

The facility will have a capacityof 50,000 tonnes of propane and 30,000 tonnes of butane. Construction on the project is expected to kick off in the first half of this year for the warehouse to be put intooperate commercially in 2025. E1 plans to supply more than 1 milliontonnes of LPG annually to the Vietnamese market.  

Previously, the Korean company bought 50% stake of YenHung Petrochemical Joint Venture in September 2022 to prepare for theconstruction of the Bac Tien Phong LPG gas storage facility. 

E1 has also announced a decision to grant a new debt guarantee worth about 256.7 billion KRW (over 192.3 million USD) to Yen Hung Petrochemical Joint Stock Company. This equates to 16.99% of equity. Debt guarantee facilitates the raising of capital by allowing the parent company to assist when the subsidiary encounters difficulties in repaying debts.

Recently, the Vietnamese government has announcedplans to expand crude oil and petroleum product storage capacity nationwide tostabilise commercial oil infrastructure. This is expected to increase thedemand for LPG imports.

An executive from E1 saidthat the Southeast Asia region has a huge demand for LPG but it lacks large-scale storage terminals.Therefore, E1 will apply its expertise and know-how accumulated in its fourdecades of experience to carry out this project./.

VNA

See more

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.

Representatives from industry associations share insights on Vietnam’s market trends. (Photo: VNA)

Vietnam, Thailand boost industrial trade exchange

Trade between Vietnam and Thailand reached 20.18 billion USD in 2024, up 6.4% year-on-year. Thailand remained Vietnam’s top ASEAN trade partner, accounting for 24% of its total trade with the bloc.

Representatives from Lao and Vietnamese agencies at the signing ceremony. (Photo: VNA)

Vietnam, Laos strengthen energy cooperation

A 1,200 MW wind power plant in Nong district, Laos’ Savannakhet province is expected to export 1,526 kWh to Vietnam annually once its first phase completes by the end of 2027, and additionally 1,112 million kWh per year after its second phase becomes operational in 2030./

A view of the Hanoi skyline. While rental properties continue to be in demand, there has also been a notable rise in the number of foreigners looking to buy houses. (Photo: VNA)

Housing demand from foreigners in Hanoi rises

Over several years, Hanoi has increasingly become an attractive destination for foreign workers, with approximately 10,000 new foreign workers are granted licences to work in the city each year.