PV Gas, US corporation move to implement Son My LNG port warehouse project
The PetroVietnam Gas Joint Stock Corporation (PV GAS) and US-based AES Corporation signed a joint venture agreement on the establishment and operation of Son My LNG port warehouse limited company in New York on September 22 (local time).
PV GAS, AES exchange joint venture agreement on the establishment and operation of Son My LNG port warehouse limited company (Photo: VNA)
Hanoi (VNA) –The PetroVietnam Gas Joint Stock Corporation (PVGAS) and US-based AES Corporation signed a joint venture agreement on theestablishment and operation of Son My LNG port warehouse limited company in NewYork on September 22 (local time).
The signing ceremony was witnessed by President Nguyen XuanPhuc who is on New York to attend the general debate of the 76th session of theUnited Nations General Assembly (UNGA).
The joint venture agreement was based on the main terms ofthe joint venture contract of Son My LNG (liquefied gas) port warehouse projectsigned in October 2020.
The Son My LNG port warehouse is one among a series of LNGpower projects in the south central province of Binh Thuan, with an estimatedtotal investment of 1.31 billion USD, and a capacity of 3.6 million tonnes ayear in the first phase and up to 9 million tonnes in the next phase.
The port will receive, process and supply LNG reprocessed asfuel for Son My 1 and Son My 2 power plants, expected to be put into operation bythe end of 2025.
Speaking at the signing ceremony, President Phuc said thatthe project has drawn attention of both Vietnam and the US.
The two corporations’ formation of the Son My LNG portwarehouse limited company to carry out the construction of the Son My LNG portwarehouse project will contribute to ensuring reprocessed LNG to serve powerdemand of the key southern economic zone in particular and Vietnam in general.
The signatories pledged to conduct procedures to put thecompany into operation in November./.
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PV GAS, AES exchange joint venture agreement on the establishment and operation of Son My LNG port warehouse limited company (Photo: VNA) 
