At noon on May 29, at the Government Headquarters, Politburo member and Prime Minister Pham Minh Chinh received Chairman and CEO of Excelerate Energy Group (USA) Steven Kobos and colleagues visiting and working in Vietnam.
According to VNA, Prime Minister Pham Minh Chinh welcomed the group to promote cooperation with Vietnamese partners; said that this activity has both political and economic significance, contributing to promoting sustainable balanced trade and cooperation between Vietnam and the US.
Mr. Steven Kobos said that Excelerate Energy Group has signed a MoU with PVGas on arranging long-term LNG sources from the US for the Vietnamese market. The Chairman of Excelerate Energy Group suggested that the Government direct Vietnamese ministries, branches and localities to create conditions for the group to invest and develop LNG infrastructure in Vietnam; ensure a stable LNG supply and establish a joint venture with Vietnamese partners to expand the market, aiming to make Vietnam a LNG distribution center of the ASEAN region.
Welcoming the departure of Excelerate Energy Group and Vietnam Gas Corporation (PVGas) to sign a cooperation agreement to arrange long-term LNG sources from the US for the Vietnamese market, Prime Minister Pham Minh Chinh suggested that the two sides cooperate closely to implement substantive and effective cooperation.
Agreeing with the proposal of Excelerate Energy Group to turn Vietnam into a regional LNG distribution hub, Prime Minister Pham Minh Chinh suggested that the group continue to research, consider expanding and enhancing cooperation with Vietnamese enterprises in providing long-term technology solutions and LNG supply, contributing to ensuring energy security for Vietnam and reducing trade deficits, enhancing the relationship between Vietnam and the US.
Wishing that Excelerate Energy Group develop the LNG supply chain in Vietnam, investing in building smart, modern LNG warehouses and transferring technology and management experience to Vietnam to effectively operate the LNG supply industry, the Prime Minister said that Vietnam is committed to developing a rapid and sustainable economy, without sacrificing progress, fairness and the environment to pursue simple growth.
The Prime Minister Pham Minh Chinh said that during the mission of the ASEAN 46 Summit in Malaysia, the Vietnamese Prime Minister, the Prime Minister of Singapore and the Prime Minister of Malaysia witnessed the Agreement on cooperation agreement on the export of clean electricity from Vietnam to Malaysia and Singapore and developing the ASEAN - regional electricity network is said to be the growth extreme of the world.
The Prime Minister said that the cooperation of Excelerate Energy Group with Vietnamese partners is of great significance and promises for sustainable development; not only helping to balance trade between the two countries but also for the longevity of the interests of the people of the two countries.
stated that Vietnam is in the policy of building a LNG storage and distribution center to serve domestically and in the ASEAN region, including serving power plants supplying electricity to ASEAN, the Prime Minister suggested that Excelerate Energy cooperate with Vietnamese partners to deploy the construction of LNG storage and distribution warehouses in Vietnam this year or in 2026.
