PetroVietnam Gas to Borrow Up to $700 Million for LNG Terminal
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PetroVietnam Gas Corp. is in talks to raise up to $700 million in foreign loans for a $1 billion liquefied natural gas terminal in what would be the fifth overseas borrowing by a Vietnamese company since the near-collapse of the country’s largest shipbuilder in December.
Ho Chi Minh City-based PetroVietnam Gas, also known as PV Gas, plans to start construction of the LNG terminal by 2012, general director Do Khang Ninh said in a telephone interview from the city today. The company is in discussions with more than 10 suppliers, including Qatar Liquefied Gas Co., as it seeks to boost imports of the fuel and meet Vietnam’s rapidly rising demand for energy, he said.