Proposal for Excelerate Energy to cooperate in building LNG center in Vietnam

Prime Minister Pham Minh Chinh received Mr. Steven Kobos, Chairman and CEO of Excelerate Energy Corporation (USA).

Prime Minister Pham Minh Chinh welcomed the group's promotion of cooperation with Vietnamese partners; he said that this activity has both political and economic significance, contributing to promoting balanced and sustainable trade relations and cooperation between Vietnam and the United States.

Thanking the Prime Minister for taking the time to receive the delegation, as well as for Vietnam sending a delegation to the United States to negotiate and promote trade, Mr. Steven Kobos said that Excelerate Energy Group is a leading US enterprise present in more than 60 countries around the world , operating in the LNG sector. Every day, the group transports LNG accounting for 1/6 of the US's exports.

Noting that Excelerate Energy has signed a memorandum of understanding with PVGas on arranging long-term LNG sources from the United States for the Vietnamese market, Mr. Steven Kobos proposed that the Government direct Vietnamese ministries, branches and localities to create conditions for the group to invest and develop LNG infrastructure in Vietnam; ensure a stable LNG supply and establish a joint venture with Vietnamese partners to expand the market, aiming to make Vietnam an LNG distribution center of the ASEAN region.

Welcoming the signing of a memorandum of understanding between Excelerate Energy Group and PetroVietnam Gas Corporation (PVGas) to arrange long-term LNG sources from the United States for the Vietnamese market, Prime Minister Pham Minh Chinh suggested that the two sides cooperate closely to implement practical and effective cooperation.

Agreeing with Excelerate Energy Group's proposal to turn Vietnam into a regional LNG distribution center, Prime Minister Pham Minh Chinh suggested that the group continue to research, consider expanding and strengthening cooperation with Vietnamese enterprises in providing technological solutions and long-term LNG supply, contributing to ensuring energy security for Vietnam and reducing the trade deficit, enhancing the relationship between Vietnam and the United States.

Wishing Excelerate Energy Group to develop the LNG supply chain in Vietnam, including investing in building smart, modern LNG storage facilities and transferring technology and management experience to Vietnam to effectively operate the LNG supply industry, the Prime Minister said that Vietnam advocates rapid and sustainable economic development, not sacrificing progress, fairness and the environment to pursue pure growth.

Emphasizing the motto "what is said is done, what is committed must be implemented effectively", Prime Minister Pham Minh Chinh said that during his working trip to attend the 46th ASEAN Summit in Malaysia, the Prime Minister of Vietnam, the Prime Minister of Singapore and the Prime Minister of Malaysia witnessed the signing ceremony of a cooperation agreement on exporting clean electricity from Vietnam to Malaysia and Singapore and developing the ASEAN power grid - a region considered to be the growth pole of the world.

The Prime Minister said that the cooperation between Excelerate Energy Group and Vietnamese partners is of great significance and has prospects for sustainable development; not only helping to balance trade between the two countries but also for the lasting interests of the people of the two countries.

Informing that Vietnam intends to build an LNG storage and distribution center to serve the domestic market and the ASEAN region, including power plants supplying electricity to ASEAN, the Prime Minister suggested that Excelerate Energy Group cooperate with Vietnamese partners to build an LNG storage and distribution center in Vietnam this year or in 2026.

Prime Minister Pham Minh Chinh affirmed that the Vietnamese Government is committed to always accompanying and sharing with businesses, ensuring that businesses operate legally, healthily and effectively; and is ready to listen to contributions, enhance understanding and improve cooperation efficiency.

YEN THUY

Source: https://baobariavungtau.com.vn/kinh-te/202505/de-nghi-excelerate-energy-hop-tac-xay-dung-trung-tam-lng-tai-viet-nam-1043920/