Petrovietnam Gas (PV Gas) has awarded its inaugural multi year LNG supply contract to Shell, committing roughly 400 000 tpy of LNG on a delivered ex ship basis to the Thi Vai import terminal for between 2027 – 2031. The contract represents the first time PV Gas has shifted from predominantly spot acquisitions to an extended term purchase.
PV Gas’ earlier term supply tender sought 20 700 000 million Btu of LNG for shipments covering 2027 – 2031, a quantity that market reporting equates to about 400 000 tpy. The tender specified DES delivery to Thi Vai and closed on 24 September 2025. The contracted volume equals roughly 0.4 million tpy, or about 40% of Thi Vai’s current 1 million tpy throughput capacity, highlighting the terminal’s central role in anchoring Vietnam’s nascent long term import profile.
Thi Vai, launched in 2023 and operated by PV Gas, is Vietnam’s first LNG import facility. Its on site assets include a single 180 000 m3 storage tank, a jetty, and regasification infrastructure geared primarily to supply nearby gas fired power plants. The terminal received the country’s initial LNG cargoes when imports began in 2023, and PV Gas has signalled plans to expand throughput to 3 million tpy to accommodate larger and more regular long term deliveries.
The Shell award dovetails with PV Gas’s expanding role as a long term fuel supplier within the PetroVietnam group. PV Gas and PetroVietnam Power have already formalised supply arrangements for the Nhon Trach 3 and 4 LNG fired plants; those company announcements and market reports describe a 25 year contract covering commercial operation from 2025 and cite an initial commitment of about 530 million m3/y for the first five years for the two Nhon Trach units. Such long tenors aim to secure fuel availability for baseload and mid merit plants and to underpin project financing for new capacity.