Work starts on $2.3 billion LNG-to-power project in Vietnam

A consortium consisting of one Vietnamese and three South Korean firms has officially started building a $2.3 billion LNG-to-power project in Vietnam’s central province of Quang Tri.

LNG importing giant and terminal operator Kogas, power firm Kospo, as well as energy solutions provider Hanwha are the developers from South Korea. Vietnamese investor and project developer T&T Group is the only firm from the Southeast Asian country.

The consortium kicked off the construction of the technical component for the first phase of the Hai Lang LNG-to-power project on January 15, according to a statement by the local government.

T&T Group said in October that the partners had received investment approval for the development.

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.

Also, the project includes an import terminal capable of receiving about 1.5 million tonnes of LNG per year.

The partners previously did not reveal any additional details regarding the LNG part of the project or the power purchase agreement.

Besides the first phase, the consortium plans to expand the facility with 3,000 MW in the future.

If built, both of the phases could cost about $4.8 billion.

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.

There are several LNG-to-power developments and LNG plants under development in Vietnam.

PetroVietnam Gas, a unit of state-owned PetroVietnam, said last year it had planned to import the first cargo via its new Thi Vai LNG terminal in 2022.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Venture Global gets FERC OK to boost Calcasieu Pass LNG capacity

US LNG exporter Venture Global LNG has received approval from the US FERC to increase the peak liquefaction capacity of its Calcasieu Pass LNG terminal in Louisiana.

More News Like This

South Korea’s Kogas ups May sales

South Korean LNG importing giant Kogas said its gas sales rose by 5 percent in May compared to last year.

South Korea’s Kospo seeks one spot LNG cargo

Korea Southern Power (Kospo) has released a tender inviting firms to submit bids for one spot LNG shipment for delivery in July 2025.

South Korea’s Kogas boosts April sales

South Korean LNG importing giant Kogas said its gas sales rose by 13.9 percent in April compared to last year.

Hanwha Ocean expects LNG newbuild market to recover in second half

South Korean shipbuilder Hanwha Ocean expects the LNG newbuilding market to recover in the second half of this year due to new US LNG export projects.