Petrovietnam Gas Joint Stock Corporation (PV Gas), a subsidiary of Vietnam’s state-owned national energy group Petrovietnam, has signed a liquefied natural gas (LNG) agreement with Shell Eastern Trading (Shell Eastern LNG), a wholly-owned subsidiary of UK-based energy giant Shell.
PV Gas has signed an LNG sales and purchase agreement with Shell Eastern Trading, following the outcome of the first tender for an LNG procurement package in late 2025, covering the period 2027-2031.
This deal is said to mark a historic first for both PV Gas and Vietnam, as it is the country’s first LNG purchase, signaling a major step forward in the country’s energy sector.
Shell, which has delivered more than 72.9 million tons of LNG in 2025, has supplied the first-ever cargo to Vietnam to operate a PV gas plant. Thi Phi LNG Terminal In July 2023, to lay the foundation for the country’s LNG import activities.
The company believes that the tender process and implementation of the sale and purchase agreement demonstrates its ability to select LNG suppliers in accordance with international standards.
As a result, PV Gas is convinced that this enables it to emerge as a reliable and efficient LNG importer that can secure LNG from competitive sources for Vietnamese users in the future.
This deal comes shortly after Shell published its forecasts for liquefied natural gasIt expected demand to increase to approximately 700 million tons annually by 2050.
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