Excelerate Energy Sets Sights On Making Vietnam A Regional LNG Distribution Hub

Driving Strategic Cooperation: Vietnam – U.S. For Energy Security

Welcoming the Excelerate Energy delegation, the Prime Minister of Vietnam expressed strong support for the Group’s enhanced cooperation with Vietnamese partners. This collaboration is highly valued for its political and economic significance, contributing to strengthening the partnership and fostering balanced, sustainable trade relations between the two nations.

Mr. Steven Kobos stated that Excelerate Energy is a leading LNG company, operating in over 60 countries worldwide and transporting 1/6 of the U.S.’s daily LNG exports. The Group has already signed an agreement with PVGas (Petrovietnam Gas Corporation) to secure long-term LNG supplies from the U.S. for the Vietnamese market.

To realize the objective of making Vietnam a regional LNG distribution hub, the Excelerate Energy CEO requested the Vietnamese Government to direct ministries, agencies, and local authorities to create favorable conditions for the Group to invest in and develop LNG infrastructure in Vietnam. Additionally, Excelerate Energy seeks to ensure stable LNG supply and establish a joint venture with Vietnamese partners to expand its market presence.

Vietnam: Energy Potential And Commitment To Supporting Businesses

Applauding the cooperation agreement between Excelerate Energy and PVGas, the Prime Minister urged both parties to collaborate closely for substantial and effective implementation. Aligning with Excelerate Energy’s proposal to establish Vietnam as a regional LNG distribution center, the Prime Minister encouraged the Group to further research, expand, and strengthen cooperation with Vietnamese enterprises in providing technology solutions and long-term LNG supplies. This initiative will not only bolster Vietnam’s energy security but also contribute to balancing trade between the two countries.

The Prime Minister affirmed Vietnam’s policy of rapid and sustainable economic development, prioritizing social progress, equity, and environmental protection over mere growth. Vietnam aims to build LNG storage and distribution centers to serve both domestic needs and the ASEAN region, including providing electricity to power plants.

Emphasizing the principle of “saying is doing, and commitments must be effectively implemented,” the Prime Minister highlighted Vietnam’s active efforts in developing the ASEAN power grid. Recently, during the 46th ASEAN Summit in Malaysia, the Prime Minister of Vietnam, alongside the Prime Ministers of Singapore and Malaysia, witnessed the signing ceremony of a cooperation agreement on exporting clean electricity from Vietnam to Malaysia and Singapore.

The Prime Minister expressed hope that Excelerate Energy will develop the LNG supply chain in Vietnam, collaborating with Vietnamese partners to invest in building smart, modern LNG storage facilities this year or in 2026. Furthermore, the Group is expected to transfer technology and management expertise to Vietnam to effectively operate the LNG supply industry and share efficient solutions aimed at reducing emissions in LNG transportation and utilization.

The Vietnamese Government is committed to always accompanying and supporting businesses, ensuring a lawful, healthy, and effective business environment. Vietnam is ready to listen to feedback, enhance mutual understanding, and improve cooperation effectiveness with foreign investors.