Vietnamese state-controlled Petrovietnam Gas (PV Gas) is sounding out suppliers for a possible tender to procure LNG under a five-year contract, according to a document seen by Reuters.
If agreed, it would be Vietnam's second term contract after a deal with Shell earlier this year, as the Southeast Asian manufacturing hub builds an LNG industry from scratch to help meet growing energy demand.
The request sent in June to potential suppliers under a ‘market sounding exercise’ is for the supply of 250,000-450,000 tonnes to be delivered to the Thi Vai Terminal, with deliveries starting in January, 2027 or later, the document said.
No tender has been announced yet.
In January, 2026 PV Gas awarded its first term contract to Shell, which will deliver the cargoes to Vietnam from 2027 to 2031, under a five-year supply deal for about 400,000 tonnes per year.
Vietnam, which is seeking to reduce its reliance on coal and lower its carbon emissions, has two LNG terminals, both located in the south of the country, which have been supplied under spot contracts.
Operated by PV GAS, Thi Vai can handle up to 1 mill tonnes per year and is being expanded to 3 mill tonnes. It supplies two power plants with combined capacity of 1.5 GW.
The other terminal, Cai Mep Terminal owned by AG&P LNG, has a capacity of 3 mill tonnes per year.
