PetroVietnam Power, a unit of PetroVietnam, recently broke ground on two LNG power plants in the southern province of Dong Nai.
To mark the construction start, the state-run firm said in a statement it held a ceremony for the Nhon Trach 3 and 4 plants with a total capacity of 1,500 megawatt (MW) on November 23.
PetroVietnam Power recently appointed a consortium of Techcombank and Military Bank to arrange syndicated loans worth $1.4 billion for the two LNG-fueled plants.
The firm plans to launch commercial operations at the plants by 2024.
Vietnam has still not started importing LNG. However, the government of Vietnam previously said that the country would start importing LNG in 2022 in order to meet the country’s growing power demand.
PetroVietnam Gas to supply LNG
PetroVietnam Gas, also a unit of PetroVietnam, will supply regasified LNG to the new power plants.
The firm recently said it plans to import the first cargo via its new Thi Vai LNG terminal in 2022.
PV Gas expects to launch the onshore LNG receiving terminal at Thi Vai in the coastal area southeast of Ho Chi Minh City in the third quarter of next year.
This facility in the Ba Ria-Vung Tau province will have a capacity of 1 mtpa in its first phase, while the PV Gas plans to boost the capacity to 3 mtpa in the next stage.
Son My LNG terminal
Besides the Thi Vai facility, PV Gas has plans to work on other LNG projects.
In September, its signed a deal with US energy firm AES to build the Son My LNG import terminal in Vietnam.
PV Gas said the Son My LNG terminal is a part of a $1.3 billion LNG-to-power complex in the country’s province of Binh Thuan.
The first phase of the LNG import facility would have a capacity of about 3.6 million tonnes per year of LNG and would supply two power plants starting in 2025.