Petrovietnam Gas Joint Stock Corporation (PV Gas), a subsidiary of Vietnam’s state-owned national energy group Petrovietnam, has inked a liquefied natural gas (LNG) agreement with Shell Eastern Trading (Shell Eastern LNG), a wholly owned subsidiary of the UK-headquartered energy giant Shell.
PV Gas has signed a term LNG sale and purchase agreement with Shell Eastern Trading, following the outcome of the former’s tender for an LNG term procurement package in late 2025, covering the 2027–2031 period.
The deal is said to mark a historic first for both PV Gas and Vietnam, as it is the country’s first-ever term LNG purchase, signalling a major step forward in the nation’s energy sector.
Shell, which delivered over 72.9 million tons of LNG in 2025, supplied the first-ever cargo to Vietnam for the commissioning of PV Gas’ Thi Vai LNG terminal in July 2023, laying the foundation for the country’s LNG import activities.
The company believes that the tender process and execution of the SPA demonstrate its capability in conducting LNG supplier selection 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 competitively sourced LNG for Vietnamese users in the future.
This deal comes shortly after Shell published its LNG outlook, expecting an increase in demand to almost 700 million tonnes a year by 2050.
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