The Hanoitimes – The partnership is expected to develop a hub for LNG imported from the US. US energy firm AES Corporation and Petrovietnam Gas JSC (PV Gas) on Wednesday signed a term sheet of the joint venture agreement for a liquefied natural gas (LNG) terminal with a US$1.4 billion investment in central Vietnam. AES Corp. and PV Gas sign deal at IPBF at the presensence of Vietnam’s Deputy Prime Minister Pham Binh Minh and US Ambassador to Vietnam Daniel J. Kritenbrink. Photo: AES Vietnam With the agreement signed during the 3rd Indo-Pacific Business Forum (IPBF) held in Hanoi on October 28-29, the joint venture is expected to speed up Son My LNG Terminal's financial completion which is scheduled in 2022 and commercial operations in 2025. The Son My LNG terminal complements AES' investment in gas infrastructure around the country, with its previously announced US$1.8 billion 2,200 megawatts (MW) combined cycle gas turbine (CCGT) power plant. Together, the plant and terminal will play a major role in shaping Vietnam's energy future by diversifying the energy mix with imported LNG as well as meeting the country's increasing demand for sustainable and affordable electricity. "This is an important milestone for the development… Read full this story
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