Moscow, 24 April (Argus) — Russian state-controlled Gazprom chief executive Alexei Miller and the chairman of state-owned PetroVietnam, Phung Dinh Thuc, are in talks regarding a long-term LNG supply contract.
PetroVietnam expects Vietnam to be short of gas after 2015 as domestic output declines. The country plans to meet growing demand through LNG imports and expects to start up its first regasification terminal — a 1.1mn t/yr plant in Ba Rua-Vung Tau province in the southeast of the country — in 2014.
A second Vietnamese terminal, with an initial capacity of 3mn t/yr, could follow in 2018 and the facility's capacity could double after 2020.
According to Gazprom, the firms agreed on what steps must be done ahead of this long-term contract. This follows an initial agreement between the two companies on 30 July 2012.
Gazprom could supply Vietnam from the first 5mn t/yr LNG train in Vladivostok, which is set to start production in 2018. Two other trains at the site with combined capacity of 10mn t/yr are expected to be developed.
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