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Market Chatter: Vietnam's PV GAS Seeks Suppliers for Potential LNG Contract

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Petrovietnam GAS is considering long-term LNG purchase as Vietnam works to expand gas-fired power and meet higher energy needs, Reuters reported Wednesday, citing a document.

PV GAS has approached potential suppliers for 250,000 to 450,000 metric tons for its Thi Vai terminal, which can handle 1 million mt annually and is being expanded to 3 million mt, while Cai Mep has 3 million mt of capacity.

PV GAS signed its first long-term LNG agreement with Shell (SHEL) in January, securing about 400,000 mt a year through 2031 as Vietnam develops its LNG market. Vietnam aims to reduce coal use and emissions, while its two southern LNG terminals currently rely on spot-market cargoes, according to the report.

PV Gas did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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