Exploration & Production

Vietnam’s upstream delays to accelerate LNG imports

Delays to Vietnam's upstream projects are likely to be bullish for the country's LNG import plans Delays to Vietnam's upstream projects are likely to be bullish for the country's LNG import plans.
By Damon Evans 25 September 2018 0 32668
A PetroVietnam rig offshore Vietnam. (PetroVietnam)

Vietnam’s demand for LNG imports could rise faster than expected as one its biggest upstream projects is facing further delays. 

PetroVietnam’s Block B development, which is targeting first gas in 2021, remains on hold after the NOC pushed its FID back from H2 2018 to Q1 2019. The project, which will underpin construction of a group of gas-fired power plants, was initially expected to be sanctioned by the end of 2017. 

The development has been on hold since the first quarter of this year, following the submission...