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Work begins on $2.3 billion gas power project in Vietnam

Vietnam aims to start importing LNG in 2022 and sees LNG among its solutions for lowering carbon emissions and ensuring the country's energy security

Work begins on $2.3 billion gas power project in Vietnam

Source: Pixabay

Hanoi, January 19 - Neftegaz.RU. Work on the 1st phase of the $2.3 billion Hai Lang gas-based power project in Vietnam has begun, the Vietnamese government announced.
The project was approved last year.

The plant, located in Quang Tri province, will have a power generation capacity of 1.5 GW and run on regasified LNG.
The LNG will be imported via a 1.5 million metric tons/year receiving and regas terminal.
The plant is expected to be ready by 2026-27.

Vietnam's T&T group and South Korea's Korea Southern Power Corp (Kospo), Hanwha Energy Corp and Korea Gas Corp (Kogas) are the project's developers, the government said.
T&T group will contribute 40% of the investment capital and while Hanwha, Kospo, Kogas will together contribute 60%.

The southeast Asian nation is promoting gas-fired power as it moves away from coal and oil-based generation.
At present, Vietnam does not import any LNG but expects to begin buying the fuel next year, the country’s minister of industry & trade Nguyen Hong Dien said in a pre-recorded video address posted on YouTube in September 2021 ahead of the 10th LNG Producer-Consumer Conference.

Vietnam aims to reach 18 and 20 GW of wind and solar capacity, respectively, in 2030.
It aims to cut GHG emissions by 27% in 2030 (with international support).

Author: Shardul Sharma

Source : Neftegaz.RU


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