South Korean LNG importing giant Kogas has signed two memorandums to develop LNG and hydrogen projects in Vietnam.
According to a statement by Vietnamese investor and project developer T&T Group, the two firms signed a memorandum of understanding on June 23 to develop LNG-to-power projects in the country, and convert coal power projects already in Power Plan VIII to LNG power.
The two firms will also explore opportunities to participate in hydrogen production projects to meet the demand of power projects, and develop business using LNG cold energy from LNG terminals in Vietnam, the statement said.
Kogas and T&T are already partners in the $2.3 billion Hai Lang LNG-to-power project in Vietnam’s central province of Quang Tri, which includes power firm Kospo as well as energy solutions provider Hanwha.
As part of the first phase of the LNG power plant, the partners will build a 1,500 MW facility with an expected start of commercial operations in 2026-27.
Besides this deal with T&T, Kogas also signed a memorandum of understanding with PetroVietnam Power, a part of state-owned PetroVietnam.
Under this MoU, the two firms will work on exploring opportunities to participate in hydrogen production projects to meet the demand of power projects, PV Power said in a separate statement.
In addition, the two sides will cooperate in other projects in Vietnam, including LNG power, it said.
Vietnam will soon become an LNG importing nation as PetroVietnam Gas, also a unit of PetroVietnam, is working to launch Vietnam’s first LNG import facility.
The Thi Vai LNG import facility consists of one 180,000-cbm LNG tank, a jetty, and regas area, and will receive its first LNG cargo from Shell.