Vietnam’s state-controlled Petrovietnam Gas, known as PV GAS, is sounding out potential suppliers for a possible five-year liquefied natural gas supply contract as the country develops its LNG import infrastructure to meet rising energy demand.

A market-sounding request sent to suppliers in June covers the potential supply of between 250,000 and 450,000 metric tons of LNG to the Thi Vai Terminal in southern Vietnam, according to a document reviewed by Reuters. Deliveries would begin in January 2027 or later.

The exercise remains preliminary, and PV GAS has not yet announced a formal tender.

If concluded, the procurement would become Vietnam’s second term LNG contract. In January 2026, PV GAS awarded its first such agreement to Shell. Under that five-year deal, the British energy company is due to supply approximately 400,000 tons of LNG annually from 2027 through 2031.

The Shell contract was finalized while Vietnam was discussing measures with the United States aimed at reducing Hanoi’s substantial trade surplus with Washington. Those measures included potential purchases of LNG from US companies. However, no term supply agreement with a US company has been announced, while negotiations over a broader trade deal continue and Vietnam faces higher US tariffs than many comparable countries.

Vietnam is seeking to reduce its dependence on coal and cut carbon emissions while expanding the role of imported LNG in its energy system. The country currently has two LNG terminals, both in the south, and both have so far received supplies purchased through spot contracts.

PV GAS operates the Thi Vai Terminal, which currently has annual handling capacity of 1 million tons. An expansion is underway that would increase capacity to 3 million tons per year. The terminal supplies two power plants with a combined generating capacity of 1.5 gigawatts.

Vietnam’s other LNG import facility is the Cai Mep Terminal, owned by AG&P LNG. It has annual capacity of 3 million tons.

A second term contract would give Vietnam another source of longer-term LNG supply as terminal capacity and gas-fired power demand develop. However, the volumes, supplier and final delivery schedule remain undecided because the process has not advanced beyond the market-sounding stage.