PV Gas to Build Vung Ang LNG Terminal in Ha Tinh by 2029
PV Gas, a subsidiary of Petrovietnam, is set to construct the Vung Ang LNG Terminal in Ha Tinh Province. The project, approved by the provincial People's Committee, is expected to be operational by the end of 2029. It aims to supply natural gas for power plants under the Adjusted Power Development Plan VIII (PDP8).
The Vung Ang LNG Terminal will span approximately 53 hectares of land and 426 hectares of water surface, with a total investment of over VND26.7 trillion (around $1.01 billion). It will operate under a 35-year license, starting from the date of land allocation.
The project features two phases. The first phase, scheduled for 2029-2030, will have a capacity of 1-3 million tons of LNG per year. In the second phase, post-2030, the capacity will be expanded based on approved planning and market demand. Once operational, the terminal is expected to create substantial employment, boost local tax revenues, and accelerate industrialization and economic restructuring in Ha Tinh.
PV Gas is also developing the Son My LNG Terminal in southern Vietnam, in partnership with AES Vietnam. The Vung Ang LNG Terminal is a key component in PV Gas's North-Central-South LNG infrastructure network, following the success of the Thi Vai LNG Terminal. PV Gas aims to have the entire project completed and operational by Q4/2029.
The Vung Ang LNG Terminal, with its significant investment and expected operational impact, is poised to contribute to Ha Tinh's economic growth and energy security. PV Gas, as the project's investor and operator, is committed to its completion by the end of 2029.
Read also:
- chaos unveiled on Clowning Street: week 63's antics from 'Two-Tier Keir' and his chaotic Labour Circus
- Budget discrepancy jeopardizes highway projects' financial support
- Racing ahead in Renewable Energy Dominance: Changzhou, Jiangsu Pushes for Worldwide Renewable Energy Ascendancy
- Colorado's Proposition 112: A 2,500-Foot Fracking Buffer on the Ballot
