On its website, PVN said the deal represents the first time PV Gas has shifted from predominantly spot acquisitions to an extended term purchase. The contract is equivalent to 20.7 million mmBtu of LNG for shipments, about 40% of Thi Vai’s current one mtpa throughput capacity.

A major LNG project of PV Gas in Vietnam is to supply LNG as fuel for Nhon Trach 3 and Nhon Trach 4 LNG-to-power plants, located in the southern province of Dong Nai. The power factories are invested by PV Power, another subsidiary of PVN.

Nhon Trach 3 and 4, Vietnam’s first LNG-fired power plants, were inaugurated in December 2025.

In October 2023, PV Gas, listed on the Ho Chi Minh Stock Exchange (HoSE) as GAS, inaugurated its $300-million LNG Thi Vai terminal with an annual capacity of one million tons, the first and biggest such facility in Vietnam. Construction of the terminal started in October 2019 and was carried out by Samsung C&T and Petrovietnam’s technical arm PTSC.

The facility has a 180,000 cubic meter tank whose capacity can be expanded from one million to three million tons in the second phase. It is also capable of accommodating ships of up to 100,000 deadweight tonnages, delivering LNG via road in tankers and connecting with the LNG Thi Vai-Phu My pipeline.