Business

Vietnamese, US firms get investment registration certificate for LNG terminal project

PetroVietnam Gas JSC (PV Gas) and the AES Corporation of the US have been granted an investment certificate and a business registration certificate for the Son My liquefied natural gas (LNG) terminal project.
Vietnamese, US firms get investment registration certificate for LNG terminal project ảnh 1Vietnamese Prime Minister Pham Minh Chinh (second from right) and the US Secretary of Commerce (second from left) at the awarding ceremony of the Investment Certificate and business registration for Son My LNG (Photo: VNA).
Hanoi (VNA) – PetroVietnamGas JSC (PV Gas) and the AES Corporation of the US have been granted an investmentcertificate and a business registration certificate for the Son My liquefiednatural gas (LNG) terminal project.

VietnameseMinister of Investment and Planning Nguyen Chi Dung handed over thecertificates to the two enterprises in the presence of visiting Prime MinisterPham Minh Chinh and US Secretary of Commerce Gina M. Raimondoin Washington D.C. on May 11.

The investmentcertificate is a significant enabler for establishing the Son My LNG terminalproject company, which is formed by PV Gas and AES affiliates.

Theterminal will have an installed capacity of 450 TBtu and represents a totalinvestment of about 1.4 billion USD. It is expected to achieve financialcompletion in 2023 and begin commercial operations in 2026.

“This is animportant milestone for developing the Son My LNG terminal project, which willsupply LNG to southern Vietnam and play a major role in shaping Vietnam’senergy future by diversifying the energy mix with imported LNG,” said DavidStone, President of AES Vietnam.

The Son MyLNG terminal complements AES’ project in the Son My 2 Combined Cycle Gas Turbine(CCGT) power plant. Together, the plant and the terminal affirm AES’scommitment to Vietnam’s economic growth and energy transition throughdeveloping gas and renewable infrastructure while helping the country meet itsenergy transition goals and the increasing demand for sustainable andaffordable electricity./.
VNA
#PetroVietnam Gas JSC #PV Gas #AES Corporation #Son My LNG terminal project #liquefied natural gas #US Secretary of Commerce # Gina M. Raimondo #Vietnam-US relations #Vietnam #updated Vietnam news #Vietnam News Agency United States Vietnam
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