Attending the ceremony for signing and awarding “Joint-venture agreement to establish and operate Son My LNG Terminal Co., Ltd.” on behalf of the high-ranking delegation of the State of Vietnam were President Nguyen Xuan Phuc; Mr. Nguyen Chi Dung – Minister of Planning and Investment; Mr. Nguyen Hong Dien - Minister of Industry and Trade; Mr. Nguyen Thanh Nghi - Minister of Construction; Mr. Le Khanh Hai - Chairman of the President’s Office and representatives of a number of Ministries, Departments and Branches.
State President Nguyen Xuan Phuc and the high-ranking delegation of the Government of Vietnam witnessed the ceremony for awarding “Joint-venture agreement to establish and operate Son My LNG Terminal Co., Ltd.”
Vietnam National Oil and Gas Group was represented by Mr. Hoang Quoc Vuong - Chairman of the Board of Directors; Mr. Do Chi Thanh – Vice President. On the side of PV GAS, there were Mr. Duong Manh Son - in charge of the Board of Directors, General Director; Mr. Nguyen Thanh Binh - Deputy General Director. On the AES side, there were Mr. Bernerd Da Santos - Permanent Vice President and CEO; Mr. David Stone – President of AES Vietnam; Mr. Joe Uddo - Vice President in charge of Market Development; Ms. Gaelle Burkhart - Global Cooperation Director.
Based on the termsheet of the Joint Venture Agreement of Son My LNG Terminal Project, approved and closely directed by the Government, Ministry of Industry and Trade, Ministries, Departments and Vietnam National Oil and Gas Group, PV GAS and AES held detailed negotiations on the terms of the Joint Venture Agreement to establish and operate Son My LNG Terminal Co., Ltd. Mr. Nguyen Thanh Binh - Deputy General Director of PV GAS and Mr. Bernerd Da Santos - Permanent Vice President and CEO of AES performed the signing ceremonials under the witness of senior leaders of the parties involved.
Mr. Nguyen Thanh Binh - Deputy General Director of PV GAS and Mr. Bernerd Da Santos - Permanent Vice President and CEO of AES performed the Commercial Agreement signing ceremonials
Son My LNG Terminal Project is part of a chain of LNG power projects in Binh Thuan province, with an estimated total investment of 1.31 billion USD, with terminal capacity of 3.6 million tons/year (for phase 1) and up to 9 million tons (for the next phase). The terminal will receive, process and supply reprocessed LNG as fuel for two power plants Son My 1 and Son My 2, expected to be put into operation from the end of 2025.
AES is an energy corporation based in the State of Virginia, USA, named in the list of 500 largest US companies by Fortune magazine (500 Fortune) and one of the world’s leading companies in the energy sector. AES has extensive experience in building Electrical and Gas infrastructure. In Vietnam, AES has successfully and effectively operated since 2010, and has invested in the Mong Duong 2 Coal Power Plant project with a capacity of 1150 MW in Quang Ninh. AES has also been approved by the Government to be the investor of Son My 2 Power Plant Project using LNG. AES contributes capital to Son My LNG Terminal Co., Ltd. with PV GAS.
The meeting between the high-ranking delegation of the Government of Vietnam and the parties involved in Son My LNG Terminal construction investment project
Giving speech at the ceremony of signing and awarding the important commercial agreement, President Nguyen Xuan Phuc said the project received the attention from the two States of Vietnam and the United States, the establishment of Son My LNG Terminal Co., Ltd. by the two sides to invest in the construction of Son My LNG Terminal would contribute to ensuring the supply of reprocessed LNG for the power generation needs of the key economic region in the South in particular and Vietnam in general. The President highly appreciated the attention and direction of the Ministries, Departments, branches and especially the efforts of Petrovietnam/PV GAS in early putting the project into operation.
Mr. Duong Manh Son - In charge of the Board of Directors, General Director of PV GAS and Mr. Bernerd Da Santos - Permanent Vice President and CEO of AES affirmed their determination to cooperate bilaterally with each other for mutual development
On behalf of the parties to the Agreement, Mr. Duong Manh Son - in charge of the Board of Directors, General Director of PV GAS and Mr. Bernerd Da Santos - Permanent Vice President and CEO of AES expressed their sincere thanks for the attention and direction from the Government, the Ministry of Industry and Trade, the Ministry of Planning and Investment, the Ministry of Justice, the Ministry of Finance... and especially from President Nguyen Xuan Phuc so that Son My LNG Terminal project was implemented on schedule, ensuring the highest efficiency. The signatories to the Agreement promised to be determined to accelerate the cooperation progress including the development of the Company’s charter so that Son My LNG Terminal Co., Ltd. would start operating in November 2021.