What is the purpose and scope of Petrovietnam Gas's new market sounding exercise for LNG procurement?

Petrovietnam Gas (PV GAS) is conducting a 'market sounding exercise'—not yet a formal tender—to explore supplier interest in a five-year term contract for liquefied natural gas (LNG), with delivery starting in January 2027 or later to the Thi Vai Terminal; the requested volume is 250,000–450,000 metric tons per year.

How does Vietnam's first LNG term contract with Shell fit into its broader energy and trade strategy?

Vietnam’s first LNG term contract—with Shell, awarded in January 2026 for annual deliveries of ~400,000 tons from 2027 to 2031—was finalized amid negotiations with the United States to reduce Vietnam’s large trade surplus with Washington, including through increased LNG purchases from U.S. firms; however, no term deal with any U.S. company has been announced to date, as trade talks continue amid higher U.S. tariffs on Vietnamese goods.

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Vietnam Considers Second LNG Term Contract After Shell Deal, Document Shows

Aug 12, 2026

Petrovietnam Gas seeks suppliers for a second five-year LNG term contract following its initial deal with Shell. The proposed supply of 250,000-450,000 tons targets the Thi Vai Terminal starting in 2027 to meet growing energy demand.

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