Officials from Excelerate and PTSC during the agreement signing ceremony. Credit: PetroVietnam Technical Services Corporation.

US-based Excelerate Energy has partnered with PetroVietnam Technical Services Corporation (PTSC) to study floating storage and regasification unit (FSRU)-based solutions for liquefied natural gas (LNG) imports in Vietnam.

This collaboration aims to help meet Vietnam’s energy demands and transition towards carbon neutrality.

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Excelerate and PTSC will leverage their combined resources and strengths to deliver affordable and reliable energy solutions to meet Vietnam’s energy demands.

The companies will undertake joint feasibility studies to assess the possibility of FSRU opportunities in Vietnam.

These studies are intended to optimise existing natural gas infrastructure and extend domestic supply with re-gasified LNG to stimulate the development of a regional gas market.

Excelerate president and CEO Steven Kobos said: “Signing this agreement marks a significant milestone in the collaboration between Excelerate Energy and PetroVietnam Technical Services Corporation.

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“We are committed to working together to address Vietnam’s energy challenges and contribute to the country’s sustainable development.”

Excelerate’s partnership with PTSC marks a significant progression in the company’s investment strategy in Vietnam’s burgeoning LNG sector.

Furthermore, PTSC, a subsidiary of Vietnam Oil and Gas Group (PetroVietnam), selected Enerflex Energy Systems to supply gas booster compressors for the Block B Project in Vietnam.

The contract includes the provision of four gas booster compressors, which are intended to enhance extraction efficiency and gas production from wellhead and gathering platforms for the project.