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
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
