Son My LNG Terminal Project Company, a joint venture between AES Corporation and PetroVietnam Gas Corporation (PV Gas), was granted the Investment Policy Approval Decision for the Son My LNG Terminal Project by the People's Committee of Binh Thuan Province on July 11.
The Son My LNG Terminal Project will be located in Binh Thuan Province, in the South Central region of Vietnam. The terminal has an installed capacity of 450 TBtu and is expected to begin commercial operations in 2027.
“The approval of the investment policy for the Son My LNG Terminal Project is an important milestone that will allow us to move forward with this important infrastructure project,” said Joseph Uddo, General Director of AES Vietnam. “With over 12 years of operations in Vietnam, AES is committed to advancing the future of Vietnam’s energy sector through important projects such as the Terminal Project. We are honored to receive the approval from the Binh Thuan Provincial People’s Committee and are excited to partner with PV Gas on this strategic project, contributing to Vietnam’s energy transition and economic growth.” US Ambassador to Vietnam Marc E. Knapper said: “The Son My Project will contribute to ensuring energy security for Vietnam as it transitions to cleaner energy sources. I am delighted that a world-leading US company like AES has become a partner of PV Gas and the Government of Vietnam.”
The Son My LNG Terminal Project, along with AES’ 2.2 GW Son My 2 Combined Cycle Gas Turbine (CCGT) Power Plant Project, is a multi-billion dollar investment. The Son My 2 CCGT Project, which received an In-Principle Approval earlier, is expected to provide safe and reliable energy to fuel Vietnam’s growth while supporting the transition to cleaner and greener technologies.
About AES Vietnam
AES is a principles-driven company. We seek to make a positive impact in our communities by providing reliable and affordable electricity while working toward our aggressive decarbonization goals.
In November 2017, AES signed a Memorandum of Understanding with PetroVietnam Gas Corporation (PV Gas) under the witness of the President of the United States and the President of Vietnam to develop the Son My LNG Terminal Project. In November 2019, AES also signed a Memorandum of Understanding with the Ministry of Industry and Trade to develop a 2.2 GW Combined Cycle Gas Turbine (CCGT) Power Plant under a BOT model, to be built in Binh Thuan Province. In October 2020, AES Vietnam and PV Gas signed the Key Terms of the Joint Venture Agreement for the Son My LNG Terminal Project. With the combination
This LNG power plant and terminal will play a key role in shaping Vietnam’s energy future, by diversifying the power mix with imported LNG, as well as meeting the country’s growing demand for sustainable and affordable electricity. Learn more at: www.aes-vietnam.com
About AES Corporation
AES Corporation (NYSE: AES), a Fortune Global 500 company, is driving the future of power. Together with our many stakeholders, we are improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, partnering with our customers on their strategic energy transition and continuing to meet the energy needs of today's customers. Learn more at">www.aes.com.#... QC
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