AGDC, PetroVietnam Gas ink LNG deal

AGDC, PetroVietnam Gas ink LNG deal

Alaska Gasline Development Corporation (AGDC) and PetroVietnam Gas (PVGAS) signed a memorandum of understanding for potential LNG supply to Vietnam.

The MoU sets forth the basic principles to collaborate on potential opportunities of LNG supply from AGDC to serve LNG import projects in Vietnam and to evaluate the possibility of upstream resource investment in Alaska, AGDC said in a statement.

PVGAS, a unit of state-owned PetroVietnam (PVN), is developing LNG receiving and regasification terminals in Vietnam, namely Thi Vai LNG terminal and Son My LNG terminal, in order to supply natural gas to newly built and proposed power plants and existing gas users.

“The agreement with Vietnam fits very well with AGDC’s broader marketing program and recently announced deal with Sinopec, which leaves a portion of the Alaska LNG production capacity with AGDC for sale to regional Asian markets such as Vietnam,” said Keith Meyer, president, AGDC.

Vietnam is a new entrant to the LNG industry but has the potential to be a rapidly growing customer of LNG, added Meyer.

Alaska LNG is designed as a 20 million tons per annum (MTPA) integrated LNG system comprised of a three-train liquefaction plant in Southcentral Alaska at Nikiski, an approximately 800 mile, 1.1 meter diameter gas pipeline, a gas treatment plant on the North Slope of Alaska and various interconnecting facilities to connect the Prudhoe Bay gas complex to the gas treatment plant.

The project aims to provide a direct link between the natural gas resources on Alaska’s North Slope with the growing LNG markets across the Asia-Pacific region.

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