Vietnam Seeks Second LNG Term Contract Amid Energy Demand Growth

Vietnam is seeking to procure liquefied natural gas (LNG) under a five-year contract, with Petrovietnam Gas sounding out suppliers for a possible tender. This would be Vietnam's second term contract after a deal with Shell earlier this year.

The request sent to potential suppliers in June is for the supply of 250,000-450,000 metric tons for the Thi Vai Terminal, with delivery starting in January 2027 or later. The document shows that no tender has been announced yet.

Vietnam's move comes as it seeks to reduce its reliance on coal and lower its carbon emissions. The country has two LNG terminals, both located in the south, which have been supplied under spot contracts. Thi Vai Terminal can handle 1 million tons a year and is being expanded to 3 million tons per year.