New York, USA, September 23, 2024, PetroVietnam Technical Services Corporation (PTSC) successfully celebrated the signing ceremony of Strategic Partnership Agreements and Equipment Supply Contract with Excelerate Energy and Enerflex Energy Systems. The ceremony was honored by the presence of Comrade Tô Lâm, General Secretary and President of the Socialist Republic of Vietnam; Comrade Nguyễn Hoà Bình, Politburo Member and Permanent Deputy Prime Minister; leaders from Central Committees, Ministries, and Agencies; the Chairman and senior leaders of PetroVietnam (PVN), member units, and high-ranking representatives fromboth partner companies.
Strategic Partnership Agreement with Excelerate Energy
Under the strategic partnership agreement between PTSC and Excelerate Energy, the two companies will conduct joint study Floating Storage and Regasification Unit (FSRU) based technical solutions for FSRU project development in Vietnam. As the country's energy demand continues to rise, FSRUs offer a key solution for storing and regasifying LNG (liquefied natural gas), enabling greater flexibility in Vietnam’s natural gas supply while significantly contributing to the transition toward cleaner energy sources. With its advanced technology and extensive experience in the FSRU sector, Excelerate Energy will support PTSC in safely and efficiently executing these projects. This is not only a major step in enhancing LNG supply capabilities but also demonstrates the strong commitment of both parties to promoting clean and sustainable energy development in Vietnam. Through this Strategic Partnership Agreement, PTSC and Excelerate Energy will lay the foundation for long-term, successful collaboration in the development of FSRU projects in Vietnam, while also contributing to the advancement of Vietnam's oil and gas sector and its energy capabilities on the global stage.
Gas Booster Compressor Supply Contract with Enerflex Energy Systems
In parallel, PTSC also signed a contract with Enerflex Energy Systems, a leading U.S.-based provider of energy solutions, for the supply of gas booster compressors. The contract includes the provision of four gas booster compressors, which play a crucial role in enhancing extraction efficiency and increasing gas production from wellhead and gathering platforms for the Block B Project — a national key project in Vietnam’s oil and gas sector. This contribution is vital for optimizing the country's natural resource utilization. Additionally, both parties signed a cooperation agreement for the supply of other mechanical equipment for future potential projects. This demonstrates the shared commitment of both parties to optimizing production efficiency, enhancing competitiveness, and ensuring safety and quality in every project. It not only provides a solid foundation for the successful implementation of the Block B Project but also marks the beginning of a promising partnership between PTSC and Enerflex for future ones.
About Excelerate Energy
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, London, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit https://www.excelerateenergy.com
About Enerflex Energy Systems
Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions – from individual, modularized products and services to integrated custom solutions. With over 4,500 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays while focusing on sustainability offerings to support the energy transition and growing decarbonization efforts. Enerflex's common shares trade on the Toronto Stock Exchange under the symbol "EFX" and on the New York Stock Exchange under the symbol "EFXT". For more information about Enerflex, visit www.enerflex.com
Tran Thi Huyen Trang