Geographic Feature: Vietnam

Thursday, August 7, 2026. VIETNAM: THE LNG PIVOT. Vietnam is transitioning from domestic oil and gas decline to LNG imports. The strategy is clear: build LNG infrastructure to fuel power generation and support double-digit economic growth. SON MY LNG TERMINAL: PV Gas and AES Corporation joint venture. Investment certificate granted. 450 TBtu capacity. $1.4 billion investment. Commercial operations targeted for 2026. Supplies southern Vietnam. Diversifies the energy mix. UPSTREAM PRODUCTION: White Tiger Block 16-1 and Rong Ca Ngu Vang Block 09-2 drilling underway. New wells targeted for 2026. Offsetting natural production declines. PTTEP partnership with Thailand. First gas from Block B gas-to-power chain targeted for 2027. GAS INFRASTRUCTURE: PV Gas coordinating fuel switching between domestic gas, LNG, and diesel oil. Pipelines and terminals expanding. LNG-to-power highlighted as transitional energy source. REGIONAL PARTNERSHIPS: Petronas from Malaysia. Japan on LNG power projects. US firms on gas-fired equipment. Indo-Pacific energy security forums prioritizing LNG and oil-gas cooperation. DEMAND PROJECTION: LNG demand reaching 5 million tonnes by 2025. Continued growth into 2026 and beyond. THE PLAY: Vietnam's LNG infrastructure buildout is real capital opportunity. Son My terminal coming online 2026. Upstream production stabilization. Regional energy hub positioning. Watch PV Gas, AES, and PTTEP developments. Vietnam becoming Southeast Asia's energy gateway.