AES and PV Gas Receive Investment Policy Approval for Son My LNG Terminal in Vietnam
July 12, 2023
Son My LNG Terminal Project Company, a joint venture of AES and PetroVietnam Gas JSC (PV Gas), was granted the Investment Policy Approval for its Son My LNG Terminal project by Binh Thuan People’s Committee on 11 July 2023.
The Son My LNG terminal project will be located in Binh Thuan Province, in the South-Central region of Vietnam. The terminal will have an installed capacity of 450 TBtu and is expected to begin commercial operations in 2027.
Joseph Uddo, President of AES Vietnam said, “The Investment Policy Approval for Son My LNG Terminal is a significant milestone that enables us to move forward with the development of this critical infrastructure project. With more than 12 years of operation in Vietnam, AES is committed to accelerating the future of energy through important projects like this. We are pleased to receive approval from the Binh Thuan People’s Committee and excited to partner with PV Gas on this strategic project that will contribute to Vietnam’s energy transition and economic growth.”
AES Executive Vice President and Chief Operating Officer Bernerd Da Santos and AES Vietnam President Joseph Uddo discussed the importance of the Son My Project with Binh Thuan People committee in February.
U.S. Ambassador to Vietnam Marc E. Knapper said, “The Son My project will bring energy security to Vietnam in the transition to cleaner sources of energy. I am happy to see a world class U.S. company like AES as a partner of choice for PV Gas and the Government of Vietnam.”
The Son My LNG terminal project, together with AES’ 2.2 GW Son My 2 combined cycle gas turbine (CCGT) represents a multibillion-dollar investment. Son My 2 CCGT, which received Investment Policy Approval earlier this year, will bring safe and reliable energy to power the growth of Vietnam while supporting the transition to cleaner and greener technologies.
For more information, please contact:
Nguyen Thi Thu Hien
Communication Specialist
Email: nguyent.hien@aes.com
Mobile: 0943 575 959
About AES in Vietnam
AES is a values driven company. We seek to make a positive impact in our communities by providing reliable and affordable power while working to achieve our aggressive decarbonization goals.
In November 2017, AES signed an MOU with PV Gas in the presence of the Presidents of both countries to develop the Son My LNG Terminal Project. In November 2019, AES also signed an MOU with the Ministry of Industry and Trade to develop a 2.2GW combined cycle gas turbine (CCGT) power plant under the BOT scheme, which will be located in Binh Thuan Province. In October 2020, AES Vietnam and PV GAS signed a Term Sheet of the Joint Venture Agreement for the Son My LNG terminal. Together, the CCGT and terminal are expected to play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG and meeting the country’s increasing demand for sustainable and affordable electricity. For more information, visit aes-vietnam.com.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we’re improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit aes.com.