US liquefied natural gas (LNG) business Excelerate Energy has signed a deal with ITECO to co-develop a greenfield LNG import terminal in Haiphong, Vietnam.
The Northern Vietnam LNG Terminal (NVLT) will be constructed in two phases and, once complete, will boast a total import capacity of 1.2 million tonnes per annum.
Excelerate and ITECO hope to start construction on the project’s first phase in 2027. Once complete, phase one will have a capacity of 0.7 million tonnes per annum.
The development of the project is subject to the execution of definitive agreements, regulatory approvals, and other conditions.
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