Samsung C&T to build Vietnam’s LNG power plant

South Korea’s Samsung C&T said it has secured a contract from PetroVietnam Power, a unit of PetroVietnam, to build a new power plant that will run on LNG.

Under the deal, Samsung C&T will build the Nhon Trach 3 and 4 combined cycle power plant plants as part of a consortium with Vietnamese contractor Lilama.

According to Samsung C&T, the company’s share of the contract is worth about $510 million while the total construction costs stand at $835 million.

Also, the project scope includes gas and steam turbines, heat recovery steam generators, substations, and power transmission lines, it said.

Samsung C&T is also building the Thi Vai LNG terminal in the coastal area southeast of Ho Chi Minh City.

This facility will supply the Nhon Trach 3 and 4 plants. PetroVietnam Gas, a unit of state-owned PetroVietnam, previously said it had planned to import the first liquefied natural gas cargo via this terminal in 2022.

On the other side, PetroVietnam Power said in November it broke ground on the two LNG power plants in the southern province of Dong Nai worth about $1.4 billion.

The Nhon Trach 3 and 4 plants will have a total capacity of 1,500 megawatt (MW).

PetroVietnam Power plans to launch commercial operations at the plants by 2024.

Most Popular

Excelerate in $700 million senior notes offering

US FSRU player Excelerate Energy aims to raise about $700 million via an offering of unsecured senior notes due 2030.

Adnoc, ENN seal 15-year LNG SPA

UAE’s Adnoc has signed a 15-year sales and purchase agreement with Chinese independent gas distributor ENN to supply the latter with LNG from its LNG terminal in Al Ruwais.

LNG shipping rates continue to decrease

Spot LNG freight shipping rates in both basins continued to decrease this week, while European prices increased compared to last week.

More News Like This

Petronas delivers first LNG cargo to PetroVietnam Gas

Malaysian energy giant Petronas has delivered the first liquefied natural gas (LNG) cargo to PetroVietnam Gas, a unit of state-owned PetroVietnam.

Petronas to supply LNG to PetroVietnam Gas

Malaysian energy giant Petronas will supply liquefied natural gas (LNG) to PetroVietnam Gas, a unit of state-owned PetroVietnam, next month. The two firms will also look into the possibility of signing long-term LNG contracts.

Excelerate, PetroVietnam Gas to collaborate on US LNG supplies

According to a statement by Excelerate on Friday, the two firms have signed a memorandum of understanding to collaborate...

PetroVietnam Gas seeks three LNG cargoes

PetroVietnam Gas, a unit of state-owned PetroVietnam, has released a new tender inviting firms to submit bids for three spot LNG cargoes for delivery to the Thi Vai LNG import terminal.