Son My LNG Terminal
| Part of the Global Gas Infrastructure Tracker, a Global Energy Monitor project. |
Son My LNG Terminal is an LNG import terminal in Vietnam with units that are proposed.
Location
Table 1: Location details
| Name | Location | Coordinates (WGS 84) |
|---|---|---|
| Phase 1 | Son My, Ham Tan, Binh Thuan, Vietnam[1] | 10.65008, 107.68464 (approximate) |
| Phase 2 | Son My, Ham Tan, Binh Thuan, Vietnam[1] | 10.65008, 107.68464 (approximate) |
The map below shows the approximate location of the terminal:
Project Details
Table 2: Infrastructure details
| Name | Facility type | Status | Capacity | Total terminal capacity | Offshore | Associated infrastructure |
|---|---|---|---|---|---|---|
| Phase 1 | import[2] | proposed[1] | 2.4 mtpa[3] | 4.8 mtpa | False | Son My I power station, Son My II power station[4] |
| Phase 2 | import[2] | proposed[5] | 2.4 mtpa[3] | 4.8 mtpa | False | Son My I power station, Son My II power station[4] |
Table 3: Cost
| Name | Facility type | Cost | Total known terminal costs |
|---|---|---|---|
| Phase 1 | import[2] | –[6] | US$1,400,000,000 |
| Phase 2 | import[2] | –[6] | US$1,400,000,000 |
Table 4: Financing
| Name | Facility type | Financing |
|---|---|---|
| Phase 1 | import[2] | Potential loan of US$3.2 billion from Export-Import Bank of the United States and the U.S. Development Finance Corporation for Son My LNG Terminal and Son My II gas power plant[7] |
| Phase 2 | import[2] | Potential loan of US$3.2 billion from Export-Import Bank of the United States and the U.S. Development Finance Corporation for Son My LNG Terminal and Son My II gas power plant[7] |
Table 5: Project timeline
| Name | Facility type | Status | Proposal year | FID year | Construction year | Operating year | Inactive year |
|---|---|---|---|---|---|---|---|
| Phase 1 | import[2] | proposed[1] | –[1] | 2023 (Pre-FID)[8] | – | 2027[9][10] | – |
| Phase 2 | import[2] | proposed[5] | –[5] | 2023 (Pre-FID)[8] | – | – | – |
Ownership
Table 6: Ownership
| Name | Facility type | Status | Owners | Parent companies | Operator |
|---|---|---|---|---|---|
| Phase 1 | import[2] | proposed[1] | AES Corp; PetroVietnam Gas[8][8] | AES Corp; Vietnam Oil and Gas Group Co | – |
| Phase 2 | import[2] | proposed[5] | AES Corp; PetroVietnam Gas[8][8] | AES Corp; Vietnam Oil and Gas Group Co | – |
Background
In 2011, PetroVietnam announced a 3 million mtpa LNG terminal at Son My in southern Vietnam.[11] The proposed terminal will be used to fuel the Son My I power station and the Son My II power station.
In 2015, PetroVietnam Gas submitted a feasibility study for the Son My terminal in Binh Thuan central province. The US$1.3 billion project was expected to have a capacity of 3.6 million tons per year by 2020, which would be raised to 6 million tons per year by 2025 and 10 million tons per year after 2025.[12][13]
In March of 2018 the Vietnamese government announced that EDF Energy would lead an international consortium in charge of the project. EDF will hold a 37.5 per cent stake in the project and is the leader of the consortium, which comprises Vietnam's Pacific Corp. (25 per cent) and Japanese partners Sojitz (18.75 per cent) and Kyushu (18.75 per cent). As of March 2018, Vietnam is targeting to build the Son My terminal, with a capacity of 1 million-3 million mt/year, between 2023 and 2025, as part of the government's 2035 gas market development master plan. The 2,000-MW Son My 1 project in the Binh Thuan coastal province is expected to be commissioned by 2023-2024.[14] In October 2019 AES Corporation received approval from the government to build the terminal, with construction expected to start in 2021.[15]
In September 2020, it was announced that the expected start-up year had been pushed back to 2026 or 2027.[16]
In September 2021, AES Corporation and PetroVietnam Gas JSC (PV Gas) signed a joint agreement for the terminal, representing a total investment of about US$1.4 billion. The companies were hoping to reach financing of the project by 2022 and commercial operations by 2026.[17]
In July 2023, the project sponsors received an investment policy approval from Vietnam's Binh Thuan People’s Committee.[18]
In March 2025, it was reported that the latest planned start date for the terminal was the first quarter of 2027 though construction did not appear to be underway.[19]
The Son My LNG Terminal is developed by Son My LNG Terminal LLC, a joint venture in which PV GAS holds 61% and AES 39% of charter capital. Per the July 2023 investment policy approval, Phase 1 is designed for 3.6 mtpa, expanding to 6 mtpa total through the terminal in Phase 2 (2027-2030), with potential long-run expansion to 10 mtpa. The signed joint venture agreement was exchanged in August 2025; latest planned start is Q1 2027 and construction had not begun as of mid-2026.[20][21][22][23][24][16]
Financing
In October 2020, the Export-Import Bank of the United States and the U.S. Development Finance Corporation presented the project sponsors with a Letter of Interest for a loan of US$3.2 billion to cover the construction costs of both the Son My LNG Terminal and the Son My II power station. Financial close for the project was foreseen for 2021,[25] but in May 2022 it was reported that the project promoters were targeting financial close in 2023.[26]
The project was granted Investment Approval by the Binh Thuan People’s Committee on July 11, 2023.[27]
Articles and Resources
Additional data
To access additional data, including an interactive map of LNG terminals, a downloadable dataset, and summary data, please visit the Global Gas Infrastructure Tracker on the Global Energy Monitor website.
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 https://e.vnexpress.net/news/business/markets/vietnam-s-first-286-million-natural-gas-import-project-postponed-3388950.html.
{{cite web}}: Missing or empty|title=(help) - ↑ 2.00 2.01 2.02 2.03 2.04 2.05 2.06 2.07 2.08 2.09 https://vn.usembassy.gov/fact-sheet-2019-indo-pacific-business-forum-showcases-high-standard-u-s-investment/.
{{cite web}}: Missing or empty|title=(help) - ↑ 3.0 3.1 https://www.rivieramm.com/news-content-hub/news-content-hub/vietnamese-lng-receives-a-boost-with-first-cargo-and-investment-approval-77058.
{{cite web}}: Missing or empty|title=(help) - ↑ 4.0 4.1 https://www.aes.com/press-release/aes-and-pv-gas-sign-joint-venture-agreement-son-my-lng-terminal.
{{cite web}}: Missing or empty|title=(help) - ↑ 5.0 5.1 5.2 5.3 https://vietnamnews.vn/brandinfo/1551044/aes-pv-gas-receive-investment-approval-for-son-my-lng-terminal-in-vietnam.html.
{{cite web}}: Missing or empty|title=(help) - ↑ 6.0 6.1 https://vir.com.vn/aes-and-pv-gas-sign-joint-venture-agreement-for-son-my-lng-terminal-87932.html.
{{cite web}}: Missing or empty|title=(help) - ↑ 7.0 7.1 http://hanoitimes.vn/aes-petrovietnam-set-up-joint-venture-for-us14-billion-lng-terminal-314645.html.
{{cite web}}: Missing or empty|title=(help) - ↑ 8.0 8.1 8.2 8.3 8.4 8.5 https://www.hellenicshippingnews.com/vietnamese-us-firms-get-investment-registration-certificate-for-lng-terminal-project/.
{{cite web}}: Missing or empty|title=(help) - ↑ https://web.archive.org/web/20210311000045/https://www.marketscreener.com/news/latest/Factbox-Vietnam-ramps-up-plans-for-LNG-import-terminals-power-plants--31255977/. Archived from the original on 2021-03-11.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.marketscreener.com/news/latest/Factbox-Vietnam-ramps-up-plans-for-LNG-import-terminals-power-plants-31255977/.
{{cite web}}: Missing or empty|title=(help) - ↑ "PetroVietnam expects approval for LNG terminal project next week," Platts, 31 May 2011
- ↑ "FACT SHEET: 2019 Indo-Pacific Business Forum Showcases High-Standard U.S. Investment," U.S. Embassy and Consulate in Vietnam, Nov. 3, 2019
- ↑ Toan Dao, "Vietnam’s first $286 million natural gas import project postponed," VN Express, April 19, 2016
- ↑ "EDF to build new gas-fired power plant in Vietnam," Power Engineering International, April 9, 2018
- ↑ Martina Li, Vietnam builds first LNG terminal, Dredging and Ports, Nov. 20, 2019
- ↑ 16.0 16.1 Khanh Vu, Factbox: Vietnam ramps up plans for LNG import terminals, power plants Market Screener, Sep. 9, 2020
- ↑ "AES and PV Gas sign joint venture agreement for Son My LNG Terminal". Retrieved 2021-11-01.
{{cite web}}: CS1 maint: url-status (link) - ↑ LNG Prime Staff (2023-07-21). "PetroVietnam Gas, AES get approval for Son My LNG import terminal". LNG Prime. Retrieved 2023-10-05.
- ↑ Tri Duc,Central Vietnam province to clear sites for LNG projects in May, for operation in 2028, The Investor, Mar. 18, 2025
- ↑ "PV GAS và Tập đoàn AES công bố nhân sự Công ty TNHH Kho cảng LNG Sơn Mỹ". BNEWS (in Tiếng Việt). Retrieved 2026-07-09.
- ↑ "Tình hình thực hiện các Chuỗi dự án khí - điện LNG Sơn Mỹ và Thị Vải". Tạp chí Năng lượng Việt Nam (in Tiếng Việt). 2023-09-08. Retrieved 2026-07-09.
- ↑ "PetroVietnam Gas, AES get approval for Son My LNG import terminal". LNG Prime. 2023-07-21. Retrieved 2026-07-09.
- ↑ "Agreeing the investment policy, the investor of the Son My LNG Terminal project". Vietnam Energy Online. 2023-07-13. Retrieved 2026-07-09.
- ↑ "Joint venture Son My LNG terminal warehouse project gets approval". The World and Vietnam Report. 2023-07-13. Retrieved 2026-07-09.
- ↑ Linh Pham, AES, PetroVietnam set up joint venture for US$1.4 billion LNG terminal, Hanoi Times, Oct. 29, 2020
- ↑ Vietnamese, US firms get investment registration certificate for LNG terminal project, Hellenic Shipping News, May 16, 2022
- ↑ "AES, PV Gas Receive Investment Approval for Son My LNG Terminal in Vietnam". vietnamnews.vn. Retrieved 2023-07-14.
