Trade wars give US LNG a beachhead in Vietnam
Gas-to-power deals offer Hanoi a quick route towards reducing its trade surplus with the US and avoiding President Trump’s attention
US pressure on Vietnam to reduce its trade deficit is creating a rare opportunity for US LNG producers to access a fast-growing Southeast Asian economy, fortuitously at a time when trade tensions are dampening their hopes for exports to China. In the latter half of 2019—while Trump administration officials stepped up threats to impose tariffs over the $39.5bn trade deficit—deals for LNG imports and LNG-related power generation worth over $5bn have been signed between US firms and the Vietnamese government. In the largest deal, the Vietnamese government chose Arlington-based power company AES on 2 October to develop an LNG-to-power 2.2GW combined cycle gas turbine power plant in the south-cen
Also in this section
20 January 2025
The country’s oil and gas giant, KazMunayGas, is pushing ahead with a series of significant international partnerships
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
