State-owned giants Vietnam Electricity Group (EVN), Vietnam Gas Corporation (PV GAS) and Vietnam Oil and Gas Power Corporation (PV Power) on Friday signed crucial agreements on the supply of liquefied natural gas (LNG) for large-scale gas-fired power projects.
Accordingly, PV GAS and EVN signed a framework agreement on the supply of regasified LNG from the Vung Ang LNG Terminal to the Quang Trach 2 & 3 power plants, due on April 30, 2029.
PV GAS and PV Power signed an addendum to the LNG trading contract for the Nhon Trach 3 & 4 power plants.
Speaking at the signing ceremony, EVN General Director Nguyen Anh Tuan said that the signing of the agreements has a significant importance in ensuring long-term fuel sources for LNG power projects, especially in the context of declining domestic gas resources and continued power growth. EVN identifies LNG as a crucial fuel source, contributing to enhancing the flexibility of the power system, supporting the integration of renewable energy, and ensuring the stable operation of the national power system.
For the 3,000MW Quang Trach 2&3 power plants, EVN commits to closely coordinating with PV GAS to implement the agreement effectively, ensuring progress, safety, and compliance with legal regulations, Mr. Nguyen Anh Tuan said.
PV GAS Chairman Nguyen Thanh Binh affirmed that the signing of the addendum is a strategic step towards making imported LNG a primary fuel source for gas-fired power plants.
In the context of complex geopolitical conditions and declining domestic gas resources, LNG is not only a supplementary source but will increasingly account for a larger share of the country’s total energy, Mr. Nguyen Thanh Binh said.
