PetroVietnam Power breaks ground on two LNG power plants

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.

Most Popular

Venture Global’s Plaquemines LNG wraps up $4 billion notes offering

Venture Global's unit Plaquemines LNG has closed a $4 billion offering of senior secured notes.

Argentina’s Enarsa to spend $567 million on LNG purchases

Argentina's state-owned LNG importer, Energia Argentina (Enarsa), will spend $570 million to purchase 22 liquefied natural gas (LNG) cargoes from BP and TotalEnergies this year.

Shell’s LNG Canada to ship second cargo

Shell-led LNG Canada is expected to soon ship the second cargo of liquefied natural gas from the Kitimat facility on the west coast of Canada, according to shipping data.

More News Like This

PetroVietnam Power says second LNG power plant connected to grid

PetroVietnam Power's Nhon Trach 4 LNG power plant was connected to the national grid on June 27.

PV Gas D, BSR ink LNG MoU

PetroVietnam Low Pressure Gas Distribution (PV Gas D) and Binh Son Refining and Petrochemical (BSR) have signed a memorandum of understanding on LNG supplies.

PetroVietnam Power fires up Nhon Trach 4 LNG power plant

PetroVietnam Power, a unit of state-owned PetroVietnam, has recently fired up its Nhon Trach 4 LNG power plant.

PetroVietnam Power gets loan for LNG purchases

PetroVietnam Power, a unit of state-owned PetroVietnam, has signed a loan agreement with compatriot HDBank to buy liquefied natural gas for its Nhon Trach 3 and 4 LNG power plants.