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Vice General Director of PVN Le Manh Hung speaks at the event.

In response to the requirements of ensuring national energy security and economic growth momentum, and based on reports and proposals of PV GAS, PV Power, Petrolvietnam (PVN) and the Ministry of Industry and Trade, the Prime Minister issued Official Document No. 212 / TTg-CN on February 13, 2017, regulating that Nhon Trach 3 & 4 Power Plant use LNG gas imported from the Thi Vai depot. The Prime Minister also issued Notice No. 03 / TB-VPCP on January 4, 2019 determining the principles regulating gas prices and output consumption. These are important directions for PV GAS to deploy the LNG 1 MMTPA Storage Project in Thi Vai and PV Power to implement Nhon Trach 3 & 4 Power Plant Projects.

The LNG Thi Vai - Nhon Trach Power Gas Terminal includes a LNG Import Depot with capacity of 1 million tons in Thi Vai and Nhon Trach 3 & 4 Gas Power Plants.

In phase 1, the Thi Vai Gas Terminal project will be invested in about $ 286 million, and after it is completed in 2020, it will supply about 1.4 billion m3 of gas to Nhon Trach 3 & 4 Power Plants as well as other industrial customers. The project will ease gas shortages in the country after 2022.

In addition to bringing benefits to all participants, the LNG Thi Vai Terminal and Nhon Trach 3 & 4 Power Plants will contribute to meeting an increasing demand for gas and electricity for industrial zones in the Southeast key economic region. The LNG Thi Vai Terminal will serve as an important link in supplying gas for consumers, including the Nhon Trach 3 & 4 Power Plants.

A scene at the signing ceremony.

Speaking at the signing ceremony, PVN Deputy General Director Le Manh Hung said that as the country’s gas exploitation is reducing, the balance of gas supply and demand for natural gas will be affected in the coming years. Particularly, the gas supply cannot meet  the demand for consumers in the Southeast area.

With a total investment of about $1.408 billion and built on an area of ​​about 34.5 ha, Nhon Trach 3 & 4 Plants, which are expected to put into operation in fourth quarter of 2022 and 2023 respectively, will increase power supply for the Southeast region.

Recognizing the important role of PVN, Deputy Minister of Industry and Trade Dang Hoang An spoke highly of the signing of the two deals, saying that this marked an important step in implementing the LNG Thi Vai - Nhon Trach Terminal, a precondition ensuring the success in the two large projects.