MAYER BROWN ADVISES EXCELERATE ENERGY ON CO-DEVELOPMENT OF LNG IMPORT TERMINAL IN VIETNAM

Mayer Brown is advising long-term client Excelerate Energy in connection with the co-development of a greenfield LNG import terminal in Haiphong, Vietnam, with Vietnamese private development company ITECO Joint Stock Company (ITECO).

The Northern Vietnam LNG Terminal (NVLT) is projected to have a total import capacity of 1.2 million tons per annum (MTPA) and will be constructed in two phases, with the first phase expected to have a capacity of 0.7 MTPA and expected to commence commercial operations in 2027. The development of NVLT is subject to execution of definitive agreements, regulatory approvals, and the satisfaction of other conditions. It is expected that Excelerate Energy would hold the exclusive rights to supply LNG to the terminal, building on Excelerate Energy’s growing presence in the LNG supply chain alongside its significant position in the Floating Storage and Regasification Unit (FSRU) market. Mayer Brown is supporting Excelerate Energy on all aspects of the NVLT project.

Nick Kouvaritakis, global head of LNG and global co-ehad of Energy at Mayer Brown, commented: “Excelerate Energy has been extremely active in the LNG industry over the past 18 months and we are delighted to support the team as Excelerate takes further steps in expanding its LNG business with exciting transactions and projects such as NVLT. We enjoy working with the Excelerate team immensely and we look forward to continuing to support the team as the NVLT project progresses.”  

The Mayer Brown team is led by partners Nick Kouvaritakis and David Harrison and includes partner Sean Prior, counsel Nick Kendrick, Kate Watlington and Hai Thao Nguyen, registered foreign consultant Matthew Chow, and associates Akaash Singh and Ling Ern Seow.