The US have been making strong inroads into Vietnam's liquefied natural gas (LNG) and power sector in recent months, with an aim to boost bilateral trade of the fuel, particularly as the Vietnamese government plans to import more large-scale LNG from the US, according to Fitch Solutions, a subsidiary of Fitch Group. The US Exim Bank and the US International Development Finance Corporation are looking to provide US$100mn in financial support for power producers in Vietnam to purchase LNG. A US-Vietnam joint venture, Chan May LNG, plans to invest US$6 billion for a project in Thua Thien Hue province, which will include a 4GW power plant and LNG terminal and storage facilities. The project has been backed by the US government, and is expected to start construction in Q1 2021, and targets the first phase of commercial operations in 2024. Additionally, Millennium Group has announced plans to develop a LNG project in the South Van Phong area in Khanh Hoa.