Japanese gas group Tokyo Gas plans to establish a joint venture with the Vietnamese gas company PetroVietnam Gas (PV Gas) and a local construction group to develop LNG activities in Vietnam. The joint venture would launch feasibility studies for a LNG plant and storage and for gas pipelines.
Gas consumption in Vietnam has increased nearly tenfold between 2000 (1.3 bcm) and 2014 (11 bcm) and this trend should continue as the country plans to add gas-fired power plants to supplement its coal-fired and hydropower plants. PV Gas is developing two regasification terminals, the 1.4 bcm/year Thi Vai LNG terminal, and the 2.4 bcm/year Son My -1 LNG terminal, both expected to come into operation between 2019 and 2020. The capacity of the Son My terminal could be doubled after 2020 and be expanded further with two other LNG terminals: 3.2 bcm/year Son My-2 as of 2025 and 4.9 bcm/year Son My-3, as of 2026-2030.