PetroVietnam Gas Joint Stock Corporation (PV GAS) and Gazprom Marketing & Trading Singapore, Pte Ltd (Gazprom M&P) recently signed a contract to buy liquefied natural gas (LNG) for Thi Vai LNG Depot in the southern province of Ba Ria-Vung Tau.
The two sides began negotiations on this deal in 2012 within the framework of the comprehensive strategic cooperation between their parent companies, the Vietnam National Oil and Gas Group (PetroVietnam) and Gazprom Group of Russia. Gazprom M&T is the first LNG provider that PV Gas has signed such a contract with to ensure LNG supplies for the Thi Vai Depot. This is an important project of PV Gas as well as PetroVietnam which aims to realise its strategy to diversify gas supplies as well as make up for gas shortages in the coming years, thus ensuring national energy security. The project has an annual capacity of one million tonnes of LNG and is expected to become operational in 2017.
Speaking at the signing ceremony, representatives of PV Gas and Gazprom M&T expressed their pleasure with the good mutual cooperation in the past time, marked by this signing ceremony, and expressed their hopes for stronger cooperation in the LNG sector to ensure the stable and competitive supply of Gazprom’s LNG for PV Gas’s import projects.
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PV Gas, Gazprom Sign LNG Deal for Thi Vai Depot Related image(s)
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