Korea’s Samsung C&T has formed a joint venture with PetroVietnam Technical Services to build a $180m liquefied natural gas (LNG) terminal.
The project, which will be worth $110m to Samsung C&T, will be Vietnam’s first LNG terminal. The scheme is being paid for by PetroVietnam Gas, a state-run energy utility.
The terminal, to be named Thi Vail, will be built about 70km southeast of Ho Chi Minh City. The project includes a 180,000 cubic metre LNG tank, a vaporisation transmission facility, and a berth. Construction is scheduled to begin on 30 June and be completed in October 2022.
The terminal will supply the soon-to-be-built Nhon Trach combined-cycle thermal power plant.
Vietnam plans to have six LNG terminals by 2035 to cater to its offshore gas reserves.
Image: The signing ceremony for the deal was held on 24 June (Samsung C&T)