Vietnam bolsters LNG sourcing as demand expected to rise

To strengthen energy security amid supply disruptions, Vietnam is accelerating liquefied natural gas sourcing and investment.

- By Thanh Van

Over two-thirds of projected LNG demand will be concentrated in southern Vietnam

(Photo: Le Toan)

On March 10, PetroVietnam Gas Joint Stock Corporation (PV GAS) received the first liquefied natural gas (LNG) shipment of 2026. A vessel docking at Thi Vai LNG Terminal delivered approximately 63,000 tonnes of LNG, equivalent to 87 million cu.m of natural gas under standard conditions.

Following its arrival, it will be regasified at the Thi Vai terminal to supply gas for power plants, supporting the reliability of Vietnam's national power system at a time of rising energy demand.

In the first half of 2026, PV GAS plans to receive three LNG shipments. Two shipments have been arranged for March, each carrying approximately 70,000 tonnes.

The conflict in the Middle East has effectively shut the Strait of Hormuz, the narrow shipping lane between Iran and Oman, through which around a fifth of the world's daily oil and LNG supply passes.

According to PV GAS, approximately 70 per cent of Vietnam's imported LNG currently comes from the Middle East. If the conflict is prolonged, Vietnam's gas supply chain could be significantly impacted.