Thi Vai LNG Terminal
| Part of the Global Gas Infrastructure Tracker, a Global Energy Monitor project. |
Thi Vai LNG Terminal is an LNG import terminal in Vietnam with units that are proposed and operating.
Location
Table 1: Location details
| Name | Location | Coordinates (WGS 84) |
|---|---|---|
| FSRU | Vũng Tàu Port, Bà Rịa–Vũng Tàu, Vietnam[1] | 10.527191, 107.026022 (approximate) |
| Phase 1 | Vũng Tàu Port, Bà Rịa–Vũng Tàu, Vietnam[1] | 10.527191, 107.026022 (approximate) |
| Phase 2 | Vũng Tàu Port, Bà Rịa–Vũng Tàu, Vietnam[1] | 10.527191, 107.026022 (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 |
|---|---|---|---|---|---|---|
| FSRU | import[2] | proposed[2] | 3.76 mtpa[2] | 6.76 mtpa | False | Nhon Trach power station[3] |
| Phase 1 | import[4] | operating[5] | 1 mtpa[6] | 6.76 mtpa | False | Nhon Trach power station[3] |
| Phase 2 | import[4] | proposed | 2 mtpa[7][8] | 6.76 mtpa | False | Nhon Trach power station[3] |
Table 3: Cost
| Name | Facility type | Cost | Total known terminal costs |
|---|---|---|---|
| FSRU | import[2] | – | US$285,000,000 |
| Phase 1 | import[4] | US$285,000,000[9] | US$285,000,000 |
| Phase 2 | import[4] | – | US$285,000,000 |
Table 4: Financing
| Name | Facility type | Financing |
|---|---|---|
| FSRU | import[2] | – |
| Phase 1 | import[4] | US$85.5 million equity investment from PetroVietnam; US$80 million loan from HSBC and two Taiwanese banks, Mega Bank and Taipei Fubon Bank; US$81.2 million loan from two Vietnamese banks, Southeast Asia Commercial Joint Stock Bank and Vietnam Export Import Bank[10] |
| Phase 2 | import[4] | – |
Table 5: Project timeline
| Name | Facility type | Status | Proposal year | FID year | Construction year | Operating year | Inactive year |
|---|---|---|---|---|---|---|---|
| FSRU | import[2] | proposed[2] | 2025[2] | – | – | –[2][2] | – |
| Phase 1 | import[4] | operating[5] | 2012[11] | – | 2019[12] | 2023[13][13][5] | – |
| Phase 2 | import[4] | proposed | – | – | – | 2029[14][15][16] | – |
Ownership
Table 6: Ownership
| Name | Facility type | Status | Owners | Parent companies | Operator |
|---|---|---|---|---|---|
| FSRU | import[2] | proposed[2] | LNG Vietnam [100%][4] | Vietnam Oil and Gas Group Co [51.0%]; Bitexco [39.0%]; Tokyo Gas Co Ltd [10.0%] | LNG Vietnam[4] |
| Phase 1 | import[4] | operating[5] | LNG Vietnam [100%][4] | Vietnam Oil and Gas Group Co [51.0%]; Bitexco [39.0%]; Tokyo Gas Co Ltd [10.0%] | LNG Vietnam[4] |
| Phase 2 | import[4] | proposed | LNG Vietnam [100%][4] | Vietnam Oil and Gas Group Co [51.0%]; Bitexco [39.0%]; Tokyo Gas Co Ltd [10.0%] | LNG Vietnam[4] |
Background
In 2012 Tokyo Gas and PetroVietnam signed a Memorandum of Understanding for development of a import terminal in Bà Rịa–Vũng Tàu Province, Vietnam. It would be the first LNG terminal in Vietnam. It was originally expected to begin importing LNG in 2015,[17] later moved to 2017.[18] The terminal will be developed in two phases. Phase one is now expected to begin operations in 2022 with a capacity of 1.0 mtpa, and phase two will begin operations in 2023 with a capacity of 3.0 mtpa.[19]
In April 2016 PetroVietnam said it had decided to temporarily put on hold work on the proposed US$286 million LNG terminal to review the feasibility of the project.[18]
In July 2016, Tokyo Gas Asia established LNG Vietnam in partnership with PetroVietnam Gas Joint Stock Corporation and Bixtexco Group for the purpose of procuring and selling LNG and building the Thi Vai LNG Terminal.[20] If constructed ThiVai LNG would join Son My LNG as the first infrastructure in Vietnam for LNG imports.[21]
In August 2018, the project was announced to have its feasibility study done and was awaiting the go-ahead signal from the ministries.[22]
In June 2019 the contract to build the terminal was awarded to Samsung C&T.[23] The Thi Vai terminal is expected to be completed in October 2022. It will have a capacity of 1 mtpa in its first phase in 2022, which will be raised to 3 mtpa by 2023 in the second phase of development.[24]
In October 2019, PetroVietnam Gas signed an agreement to supply LNG from Thi Vai to units 3 and 4 of PetroVietnam Power's Nhon Trach power station in southern Dong Nai province. These two units, each with a capacity of 600 MW, are under construction and planned to come online in 2025.[25]
In June 2022, PetroVietnam said that the construction of the first phase of the terminal was 95% complete, and it expected to commission the project in the fourth quarter of 2022.[26]
In October 2023, PetroVietnam inaugurated the terminal, after it had received its first cargo earlier in the year in July.[27]
As of March 2025, PV Gas said it would seek to increase the regasification capacity of the terminal from 5.7 million Sm3/day to 7 million Sm3/day from that month. In addition, between 2026 and 2029 it will deploying an FSRU at Vung Tau port, with a regasification capacity of 14 million Sm3/day, bringing the total system capacity to 22 million Sm3/day.[28] The move will reportedly "help EVN ensure reserve capacity in the upcoming dry seasons, meeting the demand for electricity production in the context of high load."[29]
In February 2025 Petrovietnam chairman Le Manh Hung asked PV Gas to triple Thi Vai's capacity to 3 mtpa; PV Gas said preparations were essentially complete and it expected to sign/award the EPC contract in late 2025. TTCL performed the FEED design and EPC tender preparation (scope: raising total send-out to 3 MMTPA including the existing 1 MMTPA terminal). No EPC award or construction start had been announced as of early July 2026.[30][31][32]
In June 2025, unit 4 of Nhon Trach power station, which will be supplied by the terminal, was successfully connected to the grid.[33] In December 2025, units 3 and 4 were formally inaugurated.[34]
On April 2, 2026, PV Gas completed an upgrade of the Thi Vai LNG terminal's regasification send-out from 171 tonnes per hour to 288 tonnes per hour (approximately 9.5 million cubic meters per day, or 2.5 mtpa), following commissioning trials in March-April 2026 verified by DNV. PV Gas described the uprate as operation beyond the terminal's original design specifications to meet peak power demand; the terminal's nameplate capacity remains 1 mtpa.[35][36]
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 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 2.10 2.11 https://www.offshore-energy.biz/vietnams-energy-security-getting-a-boost-with-fsru-addition/.
{{cite web}}: Missing or empty|title=(help) - ↑ 3.0 3.1 3.2 https://www.spglobal.com/commodityinsights/es/market-insights/latest-news/natural-gas/102919-pv-gas-starts-constructing-vietnams-first-lng-terminal-secures-funding.
{{cite web}}: Missing or empty|title=(help) - ↑ 4.00 4.01 4.02 4.03 4.04 4.05 4.06 4.07 4.08 4.09 4.10 4.11 4.12 4.13 4.14 4.15 (PDF) https://giignl.org/wp-content/uploads/2024/06/GIIGNL-2024-Annual-Report-1.pdf.
{{cite web}}: Missing or empty|title=(help) - ↑ 5.0 5.1 5.2 5.3 https://www.pvgas.com.vn/en-us/news/pv-gas-received-first-lng-cargo-at-thi-vai-lng-terminal.
{{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.pvgas.com.vn.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.pvgas.com.vn/en-us/news/petrovietnam-gas-joint-stock-corporation-the-first-enterprise-in-vietnam-gets-a-license-to-import-and-export-lng.
{{cite web}}: Missing or empty|title=(help) - ↑ https://naturalgasintel.com/news/work-begins-on-vietnams-first-lng-facility/.
{{cite web}}: Missing or empty|title=(help) - ↑ https://enpc.hal.science/hal-03836275v1/document.
{{cite web}}: Missing or empty|title=(help) - ↑ (PDF) https://www.tokyo-gas.co.jp/Press_e/20120305-02e.pdf.
{{cite web}}: Missing or empty|title=(help) - ↑ https://thailand-construction.com/pv-gas-starts-constructing-vietnams-first-lng-terminal-secures-funding/.
{{cite web}}: Missing or empty|title=(help) - ↑ 13.0 13.1 https://lngprime.com/asia/petrovietnam-gas-says-thi-vai-lng-import-terminal-nearing-completion/53793/.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.pvgas.com.vn/en-us/news/pv-gas-lng-to-be-delivered-soon.
{{cite web}}: Missing or empty|title=(help) - ↑ (PDF) https://www.kbsec.com.vn/pic/Service/KBSV_GAS_1Q23_Eng.pdf.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.pvgas.com.vn/en-us/news/evn-and-pv-gas-work-on-stable-gas-and-lng-supply-for-power-generation-2025-2030.
{{cite web}}: Missing or empty|title=(help) - ↑ ThiVai LNG Terminal, A Barrel Full, accessed April 2017
- ↑ 18.0 18.1 Toan Dao, "Vietnam’s first $286 million natural gas import project postponed," VN Express, April 19, 2016
- ↑ Factbox: Vietnam ramps up plans for LNG import terminals, power plants Market Screener, September 9, 2020
- ↑ "Initiatives by the Tokyo Gas Group," Tokyo Gas Group, October 6, 2016
- ↑ "Vietnam eyes 2023 start date for LNG imports," LNG World Shipping, 9 November 2016
- ↑ Tue Lam,"Vietnam’s first regasification terminal to open door for LNG imports", VNE Express, Aug. 1, 2018
- ↑ Samsung C&T to Build Vietnam’s First LNG Terminal, Business Korea, Jun. 26, 2019
- ↑ GIIGNL. The LNG Industry: GIIGNL Annual Report 2021. Accessed July 21, 2026.
- ↑ Eric Yep,"PV Gas starts constructing Vietnam's first LNG terminal, secures funding," S&P Global, Oct. 29, 2019
- ↑ LNG Prime Staff (2022-06-08). "PetroVietnam Gas says Thi Vai LNG import terminal nearing completion". LNG Prime. Retrieved 2022-07-21.
- ↑ GIIGNL. The LNG Industry: GIIGNL Annual Report 2024. Accessed July 21, 2026.
- ↑ "Vietnam's energy security getting a boost with FSRU addition - Offshore Energy". www.offshore-energy.biz. Retrieved 2025-10-11.
- ↑ "PetroVietnam Gas plans to deploy FSRU - LNG Prime". lngprime.com. Retrieved 2025-10-11.
- ↑ "PetroVietnam asks PV Gas to triple LNG Thi Vai terminal to 3 mln tons". The Investor. Retrieved 2026-07-09.
- ↑ "PetroVietnam Gas expects to award Thi Vai LNG expansion contract this year". LNG Prime. Retrieved 2026-07-09.
- ↑ "Thi Vai LNG Receiving Terminal Expansion Project". TTCL Vietnam. Retrieved 2026-07-09.
- ↑ Staff, LNG Prime (2025-06-30). "PetroVietnam Power says second LNG power plant connected to grid". LNG Prime. Retrieved 2025-08-18.
- ↑ "Vietnam switches on first LNG-fired power plants, plans 20 more by 2035 - The Business Times". www.businesstimes.com.sg. Retrieved 2026-07-10.
- ↑ Casey, Jessica (2026-04-09). "PV Gas upgrades Thi Vai LNG terminal regasification capacity". LNG Industry. Retrieved 2026-07-09.
- ↑ "PV Gas boosts Thi Vai LNG terminal capacity beyond design levels to meet peak power demand". The Investor. Retrieved 2026-07-09.
