PV Gas and Shell Cooperation on liquid natural gas (LNG) purchase

PV Gas and Shell Cooperation on liquid natural gas (LNG) purchase - 

Recently, in Ha Noi, under the withness of Vietnamese P.M Nguyen Tan Dung and Dutch P.M Mark Rutte, PetroVietnam Gas Corporation (PV Gas) and Shell (Holland) signed a MoU on cooperation for developing a LNG Import Harbor and Depot in Son My (Binh Thuan Province) and a Framework Agreement on LNG Purchase at LNG Import Harbor Depot in Thi Vai (Ba Ria-Vung Tau Province) Contract for LNG importing harbor storage project Thi Vai ( Ba Ria - Vung Tau province).

Representatives of PV Gas (PetroVietnam) and Shell (Holland) at the signing Ceremony

Son My and Thi Vai LNG Import Harbor Depot (IHD) projects play a very important role for PV Gas in strategy of diversifying gas supply and compensation of gas insufficient amount in coming years, participating in ensuring national energy security.

Thi Vai LNG IHD project with a capacity of 1 million tons per year is expected to come into operation by 2017 while Son My LNG IHD with a capacity of over 3.6 million tons per year is expected to come into operation between 2019 and 2020.

The PV Gas – Shell Framework Agreement for LNG purchase is one of the first LNG agreements with the purpose for ensuring LNG supply for Thi Vai LNG IHD project.

PV Gas is one of the major member units of PetroVietnam (PVN), playing a crucial role in Vietnam's petroleum industry. For several consecutive years, PV Gas was completing business target. PV Gas now continues to be one of the leading units of PVN, as well as on the stock trading floor by the profit, contributing considerable part in national budget and in stabilizing macroscopic economy of the country.

Shell is one of the biggest petroleum group in the world, with the wide and deep activities from upstream, midstream to downstream. Being in the vanguard in LNG sector, with a 50 year experience, Shell now owns one of the biggest global LNG supplier-nets among multinational petroleum companies, and the same achievements on LNG transport capability. Today, Shell is the biggest LNG ship operator in the would, it is managing and operating 43 international stature LNG ships, accounting for about 12% of the world total ship teams.

Besides, Shell is also one of the leading companies by LNG project technology, operating and development managing capability, typically the floating LNG projects (FLNG) named Prelude in Australia. Shell is the first company that carries out the FLNG projects in the world. FLNG is the latest achievement of Shell in developing the new technology in petroleum industry, consolidating the leading position in technology development and improvement in order to bring about a lot of values more.

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