“US LNG Giant Aims to Make Vietnam a Regional Distribution Hub”

Welcoming the delegation to Vietnam, the Prime Minister applauded Excelerate Energy’s efforts to foster collaboration with Vietnamese partners. He emphasized the political and economic significance of this endeavor, particularly in strengthening the balanced and sustainable trade relationship between Vietnam and the United States.

Expressing gratitude for the Prime Minister’s time and Vietnam’s initiative in sending a delegation to the US for trade negotiations, Mr. Steven Kobos provided an overview of Excelerate Energy. As a leading American company in the LNG industry, Excelerate Energy has a global presence in over 60 countries. The company accounts for one-sixth of the United States’ daily LNG exports.

Mr. Kobos highlighted the agreement signed between Excelerate Energy and PVGas for long-term LNG supply from the US to the Vietnamese market. He requested the Government to facilitate Excelerate Energy’s investment and infrastructure development in Vietnam, ensure stable LNG supply, and establish a joint venture with local partners to expand the market. The ultimate goal is to position Vietnam as the LNG distribution hub for the ASEAN region.

Concurring with Excelerate Energy’s proposal, the Prime Minister suggested that the company further explore opportunities to expand and strengthen collaboration with Vietnamese enterprises in providing long-term LNG supply and technological solutions. This would contribute to Vietnam’s energy security and help balance trade between the two countries.

The Prime Minister elaborated on Vietnam’s commitment to sustainable economic development, prioritizing progress, fairness, and environmental protection over mere growth. He affirmed the country’s vision to establish an LNG storage and distribution center that serves both domestic needs and the broader ASEAN market, including power plants supplying electricity to the region.

Emphasizing the principle of “walking the talk” and effective implementation of commitments, the Prime Minister recalled the recent signing of a cooperation agreement between Vietnam, Singapore, and Malaysia for the export of clean energy from Vietnam to Malaysia and Singapore. This agreement was witnessed by the Prime Ministers of the three countries during the 46th ASEAN Summit in Malaysia.

The Prime Minister expressed his aspiration for Excelerate Energy to develop an LNG supply chain in Vietnam and collaborate with local partners to construct smart and modern LNG storage facilities this year or in 2026. He emphasized the importance of technology transfer and knowledge sharing to ensure the efficient operation of the LNG industry and the achievement of emission reduction goals in transportation and LNG utilization.

In conclusion, the Prime Minister reaffirmed the Vietnamese Government’s commitment to supporting lawful, healthy, and efficient business operations. He encouraged open communication, contributions, and a deeper understanding to foster effective cooperation.