These solutions also have the potential to provide LNG to industries throughout Vietnam, who look to switch from dirtier and more expensive oil-based fuels." The strategic partnership with PTSC is an important next step in the company's broader strategy to invest in the rapidly growing Vietnamese LNG market. In June 2024, Excelerate signed a term sheet with ITECO, a Vietnamese private development company, to co-develop a greenfield LNG import terminal in Haiphong in the north of Vietnam. Commenting on the outlook of Vietnam's LNG sector amidst the global uncertainty, Wangdi noted that the new US administration has made it clear that its LNG exports are a way to address bilateral trade deficits. "As an American LNG company with a global presence, we look forward to collaborating with governments and strategic partners to find investment opportunities and promote a positive, mutually beneficial economic relationship.