Regional LNG: Excelerate Energy eyes Vietnam as hub for ASEAN
Thursday, May 29 2025 - 08:25 PM WIB
U.S.-based Excelerate Energy plans to turn Vietnam into a liquefied natural gas (LNG) distribution center for the ASEAN region, President and CEO Steven Kobos told Prime Minister Pham Minh Chinh during a meeting in Hanoi on Thursday as reported by theinvestor.vn
Citing its partnership with PV Gas on sourcing long-term LNG supply from the U.S., Kobos proposed further investment in Vietnam’s LNG infrastructure and the establishment of a joint venture with local partners.
Prime Minister Chinh welcomed the proposal, emphasizing its political and economic significance for both countries and encouraging Excelerate to expand cooperation with Vietnamese firms, including in technology transfer and emission reduction.
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The plan aligns with Vietnam’s broader strategy to build a regional LNG storage and distribution hub, supporting power exports to neighboring countries. It follows recent agreements involving Vietnam, Malaysia, and Singapore on renewable energy collaboration, including offshore wind power and cross-border electricity supply.
Earlier this month, Excelerate reaffirmed its LNG ambitions in Vietnam during a meeting in Washington D.C. with Vietnam’s Minister of Industry and Trade Nguyen Hong Dien.
Excelerate Energy operates in over 60 countries and is responsible for transporting about one-sixth of U.S. LNG exports.
Editing by Alexander Ginting