Regional LNG: Excelerate, PTSC explore FSRU-based LNG solutions in Vietnam

By Romel S. Gurky

US integrated LNG solutions firm  Excelerate Energy, Inc. and PetroVietnam Technical Services Corporation (PTSC) have entered into a strategic partnership to study Floating Storage and Regasification Unit (FSRU) solutions for liquefied natural gas (LNG) imports into Vietnam. The collaboration aims to address Vietnam’s growing energy needs while supporting the country’s transition to carbon neutrality.

Under the agreement, both companies will conduct joint feasibility studies to assess the viability of FSRU opportunities in Vietnam. These studies will focus on optimizing existing natural gas infrastructure and augmenting domestic supply with regasified LNG, meeting the increasing demand for natural gas in the region, Excelerate announced on Monday.

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This partnership follows Excelerate’s broader strategy to invest in Vietnam’s LNG market, highlighted by a June 2024 agreement with ITECO Joint Stock Company to co-develop a greenfield LNG import terminal in Hai Phong, Vietnam.

Excelerate Energy is a U.S.-based LNG company that offers a range of flexible regasification services. PTSC, a subsidiary of PetroVietnam, is a leading provider of technical services in the oil and gas industry.

Editing by Alexander Ginting