Shell Secures Petrovietnam Gas' First Long-Term LNG Contract [Yahoo! Finance]
Cenovus Energy Inc (CVE)
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Source: Yahoo! Finance
The five-year agreement reflects Vietnam's shift away from sole reliance on spot purchases as it expands gas infrastructure and power generation capacity. Under the agreement, Shell will supply around 400,000 metric tons of LNG annually from 2027 to 2031. This is Petrovietnam Gas' first long-term supply contract since Vietnam began importing LNG in 2023, underscoring a transition toward more stable, long-term procurement. The first contract entered in 2023 was for test running PetroVietnam Gas' LNG terminal located in the southern province of Ba Ria Vung Tau. At that time, Vietnam had plans to build a fleet of LNG-fired power plants totaling 22.4 gigawatts by 2030, which would make up about 14.9% of the nation's overall power generation capacity. The LNG will be delivered on a delivered ex-ship basis to the Thi Vai LNG terminal in southern Vietnam, near Ho Chi Minh City. Operated by Petrovietnam Gas, the terminal primarily supplies two gas-fired power plants that entered commerc
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- 10/31/25 - Beat
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