On 29 October 2023, at Cai Mep Industrial Park, Phu My City, Ba Ria – Vung Tau, PetroVietnam Gasoline Company (PV GAS) held a ceremony to inaugurate the 1 million tpy Thi Vai LNG terminal. Politburo member, Prime Minister, Pham Minh Chinh, despatched a bouquet of flowers as a token of his congratulations on PV GAS’ historic milestone. On the ceremony, Member of the Central Celebration Committee, Deputy Prime Minister Tran Luu Quang, delivered steering speech and joined the ribbon-cutting ceremony.
Over the previous three a long time, PV GAS has at all times maintained its main place in Vietnam’s fuel trade because the flagship of Vietnam Oil & Gasoline Group (Petrovietnam). After round 16 years because it was simply an concept on the desk, the 1 million tpy Thi Vai LNG terminal has been formally put into operation, which is the final word results of PV GAS’ efforts on the inexperienced power journey in direction of the sustainable growth of the South-East Asia nation.
In his opening speech, Dr Pham Van Phong, PV GAS’ President and CEO, shared the method of implementing the mission and expressed profound gratitude to the Communist Celebration, Governmental and Provincial leaders, Central and Native ministries and sectors, in addition to PVN for his or her steady assist and facilitation. Significantly, he additionally enormously appreciated the relentless dedication of PV GAS’ leaders and workers throughout the previous 16 years.
The 1 million tpy Thi Vai LNG terminal is a part of PV GAS’ journey of realising Decision 55 issued by the Politburo on 11 February 2020, relating to the course of Vietnam’s Nationwide Vitality Improvement Technique till 2030, with a imaginative and prescient to 2045, relating to nationwide power safety. Particularly, for the fuel trade, the Decision emphasises: “Give precedence to funding in technical infrastructure for the importation and consumption of LNG”, in addition to “Give attention to the speedy growth of gas-fired energy plant utilizing LNG in order that it regularly develop into an necessary energy provide supply supporting the regulation of nationwide energy system”.
With this Vietnam’s first LNG import infrastructure in place, PV GAS could have extra management over the fuel provide to fulfill the power wants of current energy crops and households, contributing to making sure nationwide power safety and decreasing environmental air pollution in step with the federal government’s commitments at COP26 and the worldwide shift in direction of inexperienced power.
Within the coming time, PV GAS hopes for the continued consideration, assist, and steering from the Celebration, particularly from the Authorities and Central ministries and sectors, in perfecting authorized paperwork and coverage mechanisms for the event of the LNG trade. On the identical time, PV GAS is heading in direction of the implementation of the terminal’s Part 2, with a rise in its capability to three million tpy from 2027.
Throughout the ceremony, Kim Jungwook, President of World Operations at Samsung C&T, on behalf the EPC consortium, acknowledged: “Based mostly on the power growth panorama in Vietnam amidst the worldwide power transition pattern, I imagine this enlargement and improve is certainly obligatory for the close to future.”
Central Celebration Committee Member and Deputy Prime Minister, Tran Luu Quang, affirmed that the 1 million tpy Thi Vai LNG Terminal was an necessary mission contributing to the success of the Celebration and State’s course and planning for the nation’s power growth in direction of sustainability. PV GAS had paved the way in which for the introduction of LNG into Vietnam, formally placing the nation on the worldwide LNG map and marking a vital step within the power transition course of.
The Deputy Prime Minister additionally gave instructions and orientations for Petrovietnam/PV GAS to expedite the development of Nhon Trach 3 and 4 energy crops to combine all the LNG Thi Vai LNG-to-Energy chain into operation synchronously. He additional inspired continued analysis and funding for the terminal’s Part 2. Concurrently, he emphasised the necessity to speed up investments in Son My LNG-to-Energy chain and different key petroleum tasks. Moreover, the Deputy Prime Minister pledged that the Authorities would at all times accompany, facilitate, and supply probably the most beneficial circumstances to assist PVN/PV GAS in growing petroleum power tasks, particularly these specializing in inexperienced and sustainable growth, aligning with the Celebration’s tips and the insurance policies and legal guidelines of the State.
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