Vietnam is seeking to purchase the first batch of LNG

It is reported that Vietnam is seeking to purchase the first batch of liquefied natural gas (LNG) in the country, which is the latest emerging country interested in the re-ignition of this ultra-cold fuel after the price decline. According to informed traders, PetroVietnam Gas JSC is discussing with suppliers about transporting LNG to Thi Vai Terminal this summer. These traders said that the state-owned enterprise named PV Gas was seeking approval from the local government before issuing a bid for a batch of goods. It is understood that Asian countries are re-examining liquefied natural gas (LNG) after a mild winter and the rapid drop in spot prices caused by the government-led efforts to curb consumption. Compared with last year, Vietnam's plan to import liquefied natural gas from Hong Kong has been delayed due to the high transportation cost and scarce quantity caused by the global energy crisis.At present, Vietnam plans to build a large LNG plant, with the main equipment of dehydration unit, desulfurization unit, mercury removal unit, liquefaction unit and natural gas storage unit.In addition, although the current price of natural gas is falling, the interest rate is still higher than the normal level, so it may not be of great economic significance for some emerging countries to continue to buy cash.Nevertheless, the Vietnamese government should still be in the midst of a large-scale anti-corruption campaign and have been unable to approve the relevant policies, and it is not clear when the PV Gas project will be approved.It is worth mentioning that LNG imports will help Vietnam reduce its dependence on coal and reduce emissions. It is reported that in 2021, coal will account for nearly half of Vietnam's electricity structure. Vietnam has long planned to use this fuel as a bridge to renewable energy.It is reported that Vietnam has completed the construction of Hai Linh, the first LNG import terminal, but has not yet started operation, which means that Thi Vai will become the first LNG facility in operation in the country.