Excelerate Energy to build LNG import terminal in Haiphong

August 08, 2024 | 09:00

(0) user say

US firm Excelerate Energy will team up with a Vietnamese company to co-develop a liquefied natural gas (LNG) import terminal in Haiphong, marking its entry into Vietnam's market.

Excelerate Energy to build LNG import terminal in Haiphong

According to its financial result report released on August 7, Excelerate signed a term sheet with ITECO, a Vietnamese-based private development company, to co-develop a greenfield LNG import terminal in the northern port city.

The Northern Vietnam LNG Terminal is anticipated to have a total import capacity of 1.2 million tonnes per annum, constructed in two phases.  Phase one is expected to commence operations in 2027. 

The development of the project is subject to execution of definitive agreements, regulatory approvals, and the satisfaction of other conditions.

Vietnam received its first shipment of LNG in July 2023 – a commissioning cargo for the new Thi Vai terminal. The inaugural cargo was reportedly delivered by Shell for almost $56 million for the full cargo.

As of March 2024, the country had not imported another LNG shipment, although state-owned PetroVietnam released a tender for two additional cargoes earlier this year.

Excelerate specialises in providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions. The company offers a full range of flexible regasification services, from floating storage regasification units and infrastructure development to LNG supply.

SK E&S and T&T Group research LNG project in Quang Tri

A consortium of investors, including South Korea's SK E&S and Vietnam's T&T Group, have made a proposal to research the development of a liquefied natural gas (LNG) project in the central province of Quang Tri.

Cai Mep LNG Terminal to start commercial operations in September 2024

AG&P LNG, a subsidiary of Nebula Energy, along with its partner, Hai Linh Co., Ltd., a prominent petroleum product import terminal and trader, have announced the start of the commissioning of Cai Mep LNG Terminal.

Consortiums invited to get involved in Nghi Son LNG venture

Nghi Son Economic Zone Management Authority has invited five consortiums of contractors to participate in bidding to implement the Nghi Son liquefied natural gas (LNG)-fired thermal power plant.

By Thanh Van

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional