Samsung C&T wins order to build Vietnam's first LNG terminal

26, Jun. 2019

SEOUL, AJU - A consortium led by Samsung C&T, a Samsung Group unit involved in trade, investment and construction, has secured a contract to build Vietnam's first liquefied natural gas (LNG) terminal at the southern port of Thi Vai.

Samsung C&T said Tuesday that it has formed a consortium with PetroVietnam Technical Services Corporation (PTSC) to win an order placed by Vietnam's state-run PetroVietnam Gas. Construction of the Thi Vai LNG terminal and related facilities will be completed in October 2022.

The total amount of construction is $179.5 million and Samsung C&T has a 61 percent stake, or $109.5 million. Vietnam plans to build more LNG terminals and Samsung C&T hopes to win orders for Vietnam's energy storage facilities.