US LNG importer Excelerate Energy has signed a term sheet with ITECO Joint Stock Company, a Vietnamese development firm, to co-develop a greenfield LNG import terminal in Haiphong, Vietnam. This project, called the the Northern Vietnam LNG Terminal (NVLT), made with an import capacity of 1.2 million tonnes per annum (mtpa), is to be developed in two phases. The first phase, with an estimated capacity of 0.7 mtpa, is aimed to start operations by 2027, pending the execution of definitive agreements, regulatory approvals, and other conditions.
The NVLT is seen as key infrastructure development, made with the intention of aiding the energy capabilities of Northern Vietnam. This is designed to address the regions energy requirements, whilst supporting the economical developments.
