Binh Thuan Province: Introduction of investors of Son My LNG-To-Power Project

At the ceremony, representatives of investors in the project (PV GAS, AES Vietnam, the consortium partners of Son My 1 Power Plant Project (EDF - Sojitz – Kyushu – Pacific Corporation) and Son My LNG Terminal LLC) presented an overview of each project, as well as witnessed the announcement and awarding of Investment Policy Approval of the Son My LNG Terminal Project.

PV GAS's Chairman and President & CEO presented gift to Binh Thuan's leaders 

As part of the LNG-to-Power Project, Son My LNG Terminal (located in Son My commune, Ham Tan district, Binh Thuan) is a national key oil and gas project with an estimated total investment capital of about 1.338 billion USD. It will possess a capacity of 3.6 million tons per annum (MTPA) in phase 1, with an upgrade to 6 million MTPA in phase 2 and can be expandable up to 10 million in the next phase. Moreover, Son My LNG is expected go online in 2027 and distribute re-gas LNG to Son My Power Plant I and II, with a total capacity of 4.5GW. As a result, Son My LNG-to-Power Project and Son My LNG Terminal Project in particular will be of significant help to foster Vietnam’s energy transition process, making Binh Thuan a national energy hub and promoting the country and the province’s socio-economic development.

Mr. Doan Anh Dung granted the authorized investment approval decision to the investors 

With the detailed guidance of the Goverrnment of Vietnam, Ministries and Local Departments, as well as the seamless coordination among investors, partners, and relevant parties, Son My 1 CCGT and Son My 2 CCGT were granted investment policy approval by MOIT. Most recently, People's Committee of Binh Thuan province signed the Decision approving the investment policy for Son My LNG Terminal Project and endorsed sponsors for its operational company, Son My LNG Terminal LLC. These bright milestones inferred a new promising phase of Son My LNG-to-Power value chain, strengthening the cooperative relationship among the investors towards Vietnam’s energy development.

On behalf of AES Vietnam and investors of Son My LNG Terminal Project, Mr. Joseph Uddo – President of AES Vietnam, confidently stated: “AES has been investing in the energy sector in Vietnam for over 12 years and we are committed to supporting the energy transition of this country and we appreciate the leadership, friendship, and support of the Government of Vietnam as well as of Binh Thuan province. Son My LNG Terminal Project, together with AES’ 2.2 GW Son My 2 combined cycle gas turbine (CCGT) project reaffirms AESs’ commitment to the country’s economic growth and energy transition through this multi-billion-dollar investment. This terminal will enable our customers in Vietnam to continue accelerating economic growth by using cleaner, more reliable and affordable fuel to transform the energy sector”.

Mr. Nguyen Thanh Binh's speech on the implementation of Son My LNG Terminal Project 

Following Mr. Huynh Quang Hai – PV GAS’ Vice President and Chairman of Son My LNG Terminal LLC, announcing the unit’s commitment to carry out on-schedule next steps of the project, Mr. Nguyen Thanh Binh – PV GAS’s Chairman, made a speech about the implementation of Son My LNG Terminal Project. It would be a LNG Hub with great significance in ensuring LNG supply for Son My 1 & 2 Power Plants. PV GAS would continue accompanying and efficiently coordinating with AES and Son My LNG Terminal LLC with the aim of operationalizing Son My LNG-to-Power value chain in accordance with the schedule approved by the Prime Minister in the PDP8.

Mr. Joseph Uddo – President of AES Vietnam, shared his thoughts on this promising project 

Mr. Doan Anh Dung, on behalf of Binh Thuan's leaders, congratulated the investors and gave guidelines to the related parties 

Mr. Doan Anh Dung - Provincial Party Deputy Secretary, Chairman of the People’s Committee of Binh Thuan Province, extended congratulations to the investors for being granted the authorized investment approval decision. This important legal basis allowed the entities to proceed with the next steps in accordance with the Law. Provincial Departments and People's Committee of Ham Tan District, subject to their management functions, would guide investors in project implementation and actively monitor the entire progress to promptly propose solutions to soon put the projects into operation on schedule.

Binh Thuan's leaders presented flowers to investors 

PV GAS and other entities involved in the value chain sincerely appreciated the close directions and support by the Government, Central Ministries and Provincial Departments, and especially Binh Thuan province to Vietnam's Oil and Gas industry in recent times. The company also convey its hope to continue receiving such valuable attention to further accelerate the implementation of projects and make worthy contributions to the goal of ensuring national energy security and sustainable economic development.

All look forward to Son My LNG-to-Power value chain going online!