Samsung C&T and PetroVietnam to implement Thi Vai LNG storage

On June 24, the signing ceremony of the design contract, procurement of equipment and materials, construction, and commissioning of the Thi Vai LNG storage project took place between PetroVietnam and the joint venture of Samsung C&T and PTSC, along with the signing of the LNG supply and consumption contract for Nhon Trach 3 and 4 power plants between PetroVietnam and PV Power.

Samsung C&T joint venture with PTSC (PetroVietnam) will implement the Thi Vai LNG storage. Source: trithuctre.vn

Thi Vai LNG and Nhon Trach gas power projectinclude the LNG import terminal project in Thi Vai and Nhon Trach 3 and 4 gas power plant projects, under which the LNG Thi Vai Terminal Warehouse project is owned by the corporation. PetroVietnam Gas JSC (PetroVietnam) expects to complete the first phase of Thi Vai LNG in 2022 with a storage capacity of 1 million tonnes.

The total investment value of the first phase is about $286 million. Thi Vai LNG storage will contribute about 1.4 billion cubic metres for customers including Nhon Trach 3 and 4 power plants and other industrial customers after 2022.

The port terminal included in Thi Vai LNG will becapable of receiving LNG transport ships with a tonnage of up to 85,000 DWT. The main items of the port in the first phase will include an LNG tank with a capacity of 180,000 cu.m and the most modern technological equipment matching Vietnamese and international standards. In the second phase (expected to be completed in 2023), the project capacity will be upgraded to three million tonnes.

The Thi Vai LNG storage project will be an important link in supplying renewable gas for consumers, including the Nhon Trach 3 and 4 power plant chain. Combined with Son My LNG import terminal with the total expected capacity of 10 million tonnes of LNG each year, the energy demand of the southern region in the future will basically be covered.