Tokyo Gas inks MOU with PV Gas to assist Vietnam acquire LNG

Japan's largest gas energy Tokyo Gas Monday stated that its completely owned subsidiary Tokyo Gas Engineering has been granted a front-end engineering and also layout contract for Vietnam's first LNG import terminal to be situated at Thi Vai in the southerly part of the nation.

The terminal is anticipated to start operations in 2015. Tokyo Gas also hopes to win the engineering contract to develop the terminal, Tokyo Gas General Manager of Service Growth Hiroshi Kishino claimed at a press instruction in Tokyo.

The LNG terminal will certainly be geared up with a 100,000 kl (100,000 cubic meter) storage tank, regasification units as well as a berth for LNG vessels, Tokyo Gas claimed.

Tokyo Gas also inked a memorandum of understanding with state-owned PetroVietnam's subsidiary PV Gas to assist create the Southeast Oriental nation's LNG worth chain and also aid it with LNG procurement, the Japanese energy said.

The MOU was authorized by Tokyo Gas Head Of State Tsuyoshi Okamoto as well as PV Gas President & Chief Executive Officer Do Khang Ninh in Ho Chi Minh City.

Kishino informed press reporters that PV Gas had signed the MOU after vetting Tokyo Gas' "expertise" on LNG organizations after its subsidiary won the FEED agreement for Vietnam's first LNG terminal in February.

Asked whether Tokyo Gas would take into consideration marketing LNG from its provider sources to PV Gas, Kishino stated there was no such opportunity for now.

" Our LNG procurements for the residential market is already extreme. Hence we will prioritize our purchases for the residential market," Kishino claimed. " this page , nonetheless, may able to share our experience as well as information as an LNG buyer since we have greater than 40 years of experience as an LNG customer."

Kishino included that researches and also strategies were underway for a variety of possible LNG getting incurable jobs due to skyrocketing demand for power in areas such as power and commercial usage.

Aside from the 1 million mt/year LNG import terminal that PV Gas is intending to develop along the Thi Vai River in southern Vietnam, a second terminal of upto 3 million mt/year capacity at Binh Thuan in main Vietnam is prepared to start up around 2018-20, a source acquainted with the matter said.

PV Gas has been in talks with Australia and also Qatar for LNG imports however is yet to tighten a sales and also purchase contract.