In a strategic move to bolster its energy reserves and ensure national energy security, Vietnam Oil and Gas Group (PetroVietnam) has successfully inked a significant contract with QatarEnergy LNG. This landmark agreement entails the purchase of 70,000 metric tons of liquefied natural gas (LNG), with the first shipment expected to arrive at the Thi Vai LNG terminal on April 12−13, 2024. This delivery is crucial for meeting the surging energy demands anticipated during the early summer of 2024, particularly in light of the dry season.

PetroVietnam highlighted the importance of this acquisition, noting its role in serving the industrial production needs of the country. The Thi Vai LNG terminal, which began operations in October 2023, stands as Vietnam's pioneering LNG terminal, boasting a capacity of one million tons. Operated by PetroVietnam, the terminal underscores Vietnam's commitment to diversifying its energy sources and strengthening its energy independence.

The selection of QatarEnergy as the supplier followed a competitive tender process, underscoring the Qatari firm's capability and reliability in meeting Vietnam's energy requirements. QatarEnergy LNG, a subsidiary of the state-owned QatarEnergy, is undergoing an ambitious fleet expansion initiative. This expansion includes the construction of 25 new LNG vessels by South Korean giants Hyundai Heavy Industries (HHI) and Hanwha Ocean, with Nakilat, the Qatar Gas Transport Company Limited, set to own and operate these vessels under 15-year agreements.

This partnership between PetroVietnam and QatarEnergy LNG is more than a transaction; it's a significant step towards ensuring the resilience and sustainability of Vietnam's energy sector. As the country navigates the challenges of energy security and demand, collaborations such as these play a pivotal role in supporting its economic growth and industrial development strategies.

‍