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According to a statement by Vingroup, the firm held a groundbraking ceremony for the LNG power plant and the first phase of the Tan Trao industrial park infrastructure development project on September 26.
The industrial park is where the Hai Phong LNG power plant is located, and covers an area of nearly 227 hectares, with a total investment of over 4 trilion Vietnamese dong ($151.4 million) in phase 1.
It is scheduled for completion until the end of the second quarter of 2030.
$6.7 billion
Vingroup claims that the Haipong LNG power plant will be the largest such plant in Vietnam and one of the largest in the world.
In June, Vingroup and its unit VinEnergo joined forces to develop the LNG power plant in Haiphong.
According to Vingroup, the power plant with a capacity of 4,800 MW will be built in two phases.
Moreover, the first phase will have a capacity of 1,600 MW, and the second phase will have a capacity of 3,200 MW.
Vingroup said the total poroject costs exceed 176 trilion Vietnamese dong ($6.7 biillion).
Te power plant is expected to be operational by the end of 2030.
Two LNG terminals
Vietnam currently has two LNG import terminals.
Launched in 2023, the PetroVietnam-gas operated Thi Vai LNG import terminal is Vietnam’s first LNG import facility.
It currently has a capacity of 1 mtpa, and it consists of one 180,000-cbm LNG tank, a jetty, and a regas area.
PV Gas is working on further projects, including tripling the capacity of the Thi Vai LNG import terminal.
In addition, Nebula Energy’s AG&P LNG and Vietnam’s Hai Linh received the first commissioning cargo at their Cai Mep LNG import terminal in Vietnam earlier this year.
The terminal has a capacity of 3 mtpa, expandable to 6 mtpa.
On the other hand, PetroVietnam Power’s Nhon Trach 4 LNG power plant was connected to the national grid in June.
In February this year, PV Power’s Nhon Trach 3 LNG power plant was connected to the national grid.
These are the first LNG power plants in Vietnam.
