[[{“value”:”
ENB Pub Note: We are observing this trend globally, and LNG remains the fastest-growing source of energy for coastal markets. I have added the basic energy mix for Vietnam over the update from LNGPrime.com
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Coal: Remains a dominant source, accounting for ~30-35% of electricity generation. Vietnam relies heavily on coal-fired power plants, though efforts are underway to reduce this share due to environmental concerns.
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Hydropower: Contributes ~25-30% of the energy mix. It’s a key renewable source, but growth is limited by geographic constraints and seasonal variability.
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Natural Gas: Makes up ~15-20% of electricity production. Gas is seen as a transition fuel, with new LNG projects boosting its role.
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Renewables (Solar and Wind): Rapidly growing, contributing ~15-20%. Solar has surged due to favorable policies, while offshore wind is gaining traction, supported by foreign investment.
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Oil and Others: Oil is minimal in electricity generation (<5%), used mainly in transport. Biomass and small-scale renewables play a niche role.
Source: LNGPrime.com
The company announced the investment of more than 78 trillion Vietnamese dong ($3 billion) in a statement on May 31 following its annual general meeting of shareholders.
PV Gas did not provide further details regarding the LNG investment.
However, the company said earlier this year that it expects to award the EPC deal for the capacity expansion of its Thi Vai LNG import terminal later in 2025.
South Korea’s Samsung C&T and PTSC, a unit of PV Gas, built the Thi Vai LNG terminal in the coastal area southeast of Ho Chi Minh City.
Launched in 2023, Vietnam’s first LNG import facility currently has a capacity of 1 mtpa, and it consists of one 180,000-cbm LNG tank, a jetty, and a regas area.
The expansion will triple the capacity to 3 mtpa.
PV Gas also revealed in March that it plans to deploy a floating storage and regasification unit in Vietnam next year, adding to its Thi Vai LNG import terminal.
In the period of 2026-2029, PV Gas plans to deploy an FSRU at its Vung Tau port.
According to PV Gas, this FSRU will have a storage capacity of 135,000 – 174,000 cbm of LNG and a regasification capacity of up to 14 million Sm3/day, bringing the total regasification capacity of the entire system to about 22 million Sm3/day.
Besides these projects, PV Gas plans to develop the 3.6 mtpa Son My LNG terminal in Binh Thuan.
The post PetroVietnam Gas to invest $3 billion over next five years appeared first on Energy News Beat.
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