Vietnam to import LNG from 2012

Vietnam will import 1 million tonnes of liquefied natural gas (LNG) every year from 2012 to meet the country’s demands, says the PetroVietnam (PVN).

According to PVN’s estimate of the supply-demand balance of gas until 2015, the country will face a shortage of about 1.4 billion cubic metres of gas (equivalent to 1 million tonnes of LNG) each year.

PetroVietnam Gas (PV Gas), a PVN member, is investing US$500 million to implement the project.

However, PG Gas is facing numerous difficulties as the project will need big investment and the LNG prices in the world market are three times higher than domestic gas prices. – VOV

Tags: LNG

Posted by VBN on Feb 19 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry