PV GAS, AES Corporation sign deal on Son My LNG import terminal project
The PetroVietnam Gas Joint Stock Company (PV GAS) and the US-based AES Corporation have signed the term sheet of the joint venture agreement for the development of the Son My LNG Import Terminal Project - a project with a total investment cost of 1.4 billion USD.
The online signing of the term sheet of the joint venture agreement for the development of the Son My LNG Import Terminal Project on October 28 (Photo: VNA)
Hanoi (VNA) – The PetroVietnam Gas Joint Stock Company (PV GAS) and the US-based AESCorporation have signed the term sheet of the joint venture agreement for thedevelopment of the Son My LNG Import Terminal Project - a project with a totalinvestment cost of 1.4 billion USD.
Thissigning, which was held virtually on October 28 on the sidelines of theIndo-Pacific Business Forum, came near the one-year anniversary of the historic agreement the AES Corporationsigned with the Vietnamese government to build the 1.8-billion-USD Son My 2 combinedcycle gas turbine (CCGT) power plant.
PV GASGeneral Director Duong Manh Son and Executive Vice President and ChiefOperating Officer of the AES Corporation Bernerd Da Santos inked the deal underthe witness of officials from the Vietnamese and US governments.
The Son My LNG ImportTerminal Project will help meet the demand for gas and power🌞 in the southernkey economic region and the whole country in general, thereby 🐻ensuring nationalenergy security, Son said.
The Son My LNG Import Terminal Project will be located in the southcentral province of Binh Thuan with the total capacity of up to 450 TBtu, to supplygas to newly built gas-fired power plants of about 4,500 MW, other existinggas-fired power plants, and industrial customers. Together, the 2.2 gigawattspower plant and terminal will play a major role in shaping Vietnam’s energyfuture by diversifying the energy mix with imported LNG as well as meeting thecountry’s increasing demand for sustainable and affordable electricity./.
PetroVietnam Gas Joint Stock Corporation (PV Gas) has taken the lead in the Vietnam Oil and Gas Group (PetroVietnam) and played key role in the domestic gas industry, heard a meeting celebrating the 30th founding anniversary of the corporation in HCM City on September 18.
The Vietnam Oil and Gas Group (PetroVietnam) has reported an oil output of 8.64 million tonnes in the first nine months of this year, 9.4 percent higher than the set target.
PetroVietnam GAS Corporation JSC (PV GAS), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), raked in over 6 trillion VND (over 259 million USD) of post-tax profit in the first nine months of the year, exceeding the target set for the period by 27 percent.
The Forbes Vietnam magazine recently placed PetroVietnam Gas Joint Stock Corporation (PV GAS) second in terms of after-tax profit and fourth in revenue among top 50 listed companies in 2019 in its rankings.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
The online signing of the term sheet of the joint venture agreement for the development of the Son My LNG Import Terminal Project on October 28 (Photo: VNA) 
