The terminal will play an important role in supporting Vietnam’s energy transition and economic growth
The AES Corporation and PV Gas granted Investment Registration Certificate for Son My LNG Terminal
Representatives of AES and PetroVietnam Gas JSC (PV Gas) were granted an Investment Registration Certificate for the Son My LNG terminal project.
AES Executive Vice President and Chief Operating Officer, Bernerd Da Santos, and PV Gas President and CEO, Hoang Van Quang, received the Certificate from Vietnam’s Minister of Investment and Planning Nguyen Chi Dung at a ceremony in the presence of Vietnamese Prime Minister Pham Minh Chinh, U.S. Secretary of Commerce Gina M. Raimondo as well as Vietnamese and US government officials.
The Investment Registration Certificate is a major enabler for the establishment of the Son My LNG terminal project company, which is formed by PV Gas and AES affiliates. The terminal will have an installed capacity of 450 TBtu and represents a total investment of about US$1.4 billion.
The terminal is expected to achieve financial completion in 2023 and begin commercial operations in 2026.
“This is an important milestone for the development of the Son My LNG terminal project, which will supply LNG to southern Vietnam and play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG,” said David Stone, President of AES Vietnam.
The Son My LNG terminal complements AES’ project in the Son My 2 Combined Cycle Gas Turbine (CCGT) power plant. Together, the plant and the terminal affirm AES’ commitment to Vietnam’s economic growth and energy transition through the development of gas and renewable infrastructure, while helping Vietnam meet its energy transition goals and increasing demand for sustainable and affordable electricity.
As a leader in clean growth and innovation, AES has been leading the energy industry with cutting-edge technologies in LNG to power, renewables, digital innovation, and battery energy storage, while creating the greener, smarter energy solutions the world needs. AES has extensive experience in developing LNG to power projects, including LNG terminals in the Dominican Republic in 2003 and in Panama in 2018, which have been providing cleaner, more cost-effective and sustainable energy solutions for the Caribbean and Central America.