Vietnam's State-owned Petrovietnam Gas has awarded its first-ever term LNG supply tender to Shell, which will deliver LNG to Vietnam for a five-year period starting in 2027 (Reuters, 07/01/2026). Under the agreement, Shell will supply approximately 0.4 Mt/year (0.55 bcm/year) of LNG over the 2027-2031 period. The cargoes will be delivered to Petrovietnam Gas’ Thi Vai LNG terminal. To date, Vietnam has sourced LNG exclusively from the spot market. The country launched its first-ever tender for long-term LNG supply in August 2025.
Vietnam began importing LNG in 2023, with its first cargo delivered to the Thi Vai import terminal, the country’s first LNG facility. Operated by Petrovietnam Gas, the terminal primarily supplies two gas-fired power plants (Nhon Trach 3 and 4), which entered commercial operation in December 2025.
According to our data, Vietnam imported relatively small volumes of natural gas in 2024, limited to LNG, totalling around 0.5 bcm. Of these imports, 33% came from Brunei and 19% from Indonesia. Vietnam’s National Energy Master Plan for 2021–2030 supports the construction of LNG import terminals. PetroVietnam is building a new LNG terminal and plans to develop three additional facilities (Enerdata Global Energy Research, January 2026).