Vietnam gas line deal announced on Presidential trip

Generic pipeline photo.

ANCHORAGE, Alaska (KTUU) - The Alaska Gasline Development Corp. signed a Memorandum of Understanding Sunday with PetroVietnam Gas, which is intended to serve Vietnam with Alaska Natural Gas.

It also evaluates the possibility of resource investment in Alaska.

According to a press release from AGDC, the agreement was signed by executives of the two entities in Hanoi, Vietnam with both U.S. President Donald Trump and Vietnam President Trần Đại Quang present.

PetroVietnam Gas is a state-owned subsidiary, and is developing receiving and regasification terminals in Vietnam to supply natural gas to newly-built and proposed power plants and existing gas users.

Keith Meyer, AGDC’s president, says the deal announced last week with China’s Sinopec would leave a portion of Alaska LNG production available for other markets like Vietnam.

RELATED: Alaska’s Gas Line deal with China explained

He said Vietnam is a new entrant to the LNG industry, but has the potential to be a rapidly-growing market.

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