The American energy company AES and Petrovietnam Gas have recently announced to receive permission from the local government of Binh Thuan Province to construct the USD 1.34 billion Son My LNG Terminal.
The new terminal, when completed in 2027, will become the nation’s largest infrastructure for managing the import and export of liquefied natural gas (LNG), with a capacity of 450 trillion British thermal units. The terminal’s capacity will be 3.6 million tons of LNG per year during the first phase and can reach up to 6 million tons in the second.
According to the president of AES Vietnam, the Investment Policy Approval for Son My LNG Terminal is the company’s crucial turning point, allowing AES to advance with the construction of this key infrastructure project in the Southeast Asian country.
The new LNG terminal project, along with the 2.2-gigawatt Son My 2 combined cycle gas turbine (CCGT), represents a multibillion-dollar investment into the country’s central coast region.
According to AES, the Son My 2 CCGT project, which earlier in 2023 received investment policy approval, would provide secure and reliable energy to fuel Vietnam’s economic development while assisting the transition to cleaner and greener technology.
Under Vietnam’s latest energy development plan, the country will have 13 LNG facilities with a total capacity of 22,400 megawatts by 2030, accounting for 14.9% of total generation capacity.