A strategic milestone has just been established when Mr. Le Manh Cuong, Mr. Thomas Mitchell Little and Mr. Huynh Quang Hai, representing the three parties, signed a gas purchase contract for the Nam Du - U Minh mine project under the witness of senior leaders of the units.
Strategic Significance of the Project
Nam Du - U Minh field located in the Malay - Tho Chu basin, off the coast of Southwest Vietnam, is considered one of the important domestic gas sources for the Mekong Delta region.
Signing this contract brings many strategic benefits:
1. Supplementing stable gas sources for the Southwest region
2. ⚡ Providing fuel for gas power plants
3. Support fertilizer production and petrochemical industry
4. Reduce dependence on imported LNG
5. Increase revenue for the entire gas - electricity - nitrogen chain
⛽ Roles of the Parties
Role Unit
Petrovietnam Coordinates strategy and develops the national oil and gas value chain
Jadestone Energy Mine operator and developer
PV GAS Collects, transports and consumes gas
Economic Impact
When the project goes into commercial exploitation, the Southwest region will have more domestic natural gas sources at a more competitive cost than imported LNG, contributing to:
* Stabilize electricity prices
* Increase national energy initiative
* Create jobs and budget revenue
* Stimulate investment in gas and electricity infrastructure
An Important Step For Vietnam's Energy Security
In the context of a sharp increase in electricity demand and a decline in traditional gas sourcesMeanwhile, Nam Du - U Minh is considered a key project to help maintain a cleaner energy supply than coal, while ensuring Vietnam's energy transition process.
The signing of the gas purchase contract shows that the project has passed an extremely important commercial milestone, paving the way for the official investment, development and exploitation phase. 
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