Vietnamese Minister of Investment and Planning Nguyen Chi Dung handed over the certificates to the two enterprises in the presence of visiting Prime Minister Pham Minh Chinh and US Secretary of Commerce Gina M. Raimondo in Washington D.C. on May 11.
The investment certificate is a significant enabler for establishing the Son My LNG terminal project company, which is formed by PV Gas and AES affiliates.
The terminal will have an installed capacity of 450 TBtu and represents a total investment of about 1.4 billion USD. It is expected to achieve financial completion in 2023 and begin commercial operations in 2026.
“This is an important milestone for developing the Son My LNG terminal project, which will supply LNG to southern Vietnam and play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG,” said David Stone, President of AES Vietnam.
The Son My LNG terminal complements AES’ project in the Son My 2 Combined Cycle Gas Turbine (CCGT) power plant. Together, the plant and the terminal affirm AES’s commitment to Vietnam’s economic growth and energy transition through developing gas and renewable infrastructure while helping the country meet its energy transition goals and the increasing demand for sustainable and affordable electricity.