Excelerate Energy, Petrovietnam Gas Sign MOU to Secure US LNG

Excelerate Energy Inc. and Petrovietnam Gas Joint Stock Corp. are collaborating to secure LNG from the U.S. as early as 2026, the companies said March 14.

Under the memorandum of understanding, Excelerate, a provider of floating storage and regasification units and LNG solutions, and Petrovietnam, a subsidiary of Vietnam Oil and Gas Group, will work to define a joint venture framework to capture LNG sourcing. The companies will also evaluate Petrovietnam’s LNG supply requirements.

“We are pleased to partner with PV Gas on this significant opportunity,” said Oliver Simpson, Excelerate executive vice president and chief commercial officer. “This collaboration underscores our commitment to helping Vietnam meet its growing energy needs while also providing a downstream market for U.S. LNG supply.”