SEATTLE (Oil Monster): Vietnam Gas Corp. (PV GAS) has signed a forward contract for the purchase and sale of LNG with Shell Eastern Trading (Pte) Ltd, a wholly-owned subsidiary of Shell plc, for the period 2027 – 2031. The contract is the result of the first forward LNG procurement package organised by PV GAS, completing the supplier selection process by the end of 2025, and marks the first time a forward LNG contract has been signed to supply Vietnam.
With the signing of this contract, PV GAS becomes the first Vietnamese enterprise to fully meet the conditions to participate in negotiations and sign a time-traded LNG purchase and sale contract according to the standards and practices of the international LNG market. This is not only an important milestone in the development of the domestic LNG market, but also contributes to realising the government's policy of diversifying stable, long-term energy sources, contributing to ensuring national energy security and meeting fuel needs for electricity production, as well as economic development.
As one of the world's leading LNG trading groups, Shell has achieved total delivery volumes exceeding 72.9 million t in 2025 and possesses extensive experience in implementing long-term supply contracts. Prior to this, in July 2023, Shell also supplied the first LNG shipment to Vietnam for the trial run of PV GAS's Thi Vai LNG terminal, marking the beginning of Vietnam's LNG import phase.
Shell Eastern LNG was selected through a broad, open, transparent, and competitive international bidding process, in line with international practices. The procurement package attracted participation from many reputable energy companies worldwide, including leading corporations in the LNG sector. The selection result not only affirms the attractiveness of the Vietnamese LNG market, but also reflects the increasing prestige, capabilities, and position of PV GAS in the international LNG supply chain.
The completion of the supplier selection process and the signing of the LNG sales contract for the period 2027 – 2031 further affirms PV GAS's progress in deeply integrating into the regional and international LNG supply chain. Building on this foundation, PV GAS will continue to play a pioneering role in developing the LNG market in Vietnam, proactively diversifying supply sources, optimising business efficiency, and making positive contributions to sustainable development and national energy security.
Courtesy: www.lngindustry.com
