PetroVietnam builds nation's largest LPG storage facility

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State-owned oil and gas group PetroVietnam on Wednesday started construction of the country's largest liquefied gas storage facility with a capacity of 84,000 tons.

The group is developing the US$250-million project with partner VinaBenny Corp in the Mekong Delta province of Long An, around 25 kilometers from Ho Chi Minh City.

The project is scheduled for completion in December 2012. It is expected to handle up to a million tons of liquefied petroleum gas a year.

According to a report in the Nguoi Lao Dong newspaper, Vietnam has 31 gas storage facilities with a capacity of 500-4,000 tons each, but they are unable to meet local storage demands.

The new 84,000-ton facility will be able to store a large amount of gas imported from the Middle East and Australia, helping to stabilize the local market, it said.

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