On May 18, a consortium comprising Vietnam Oil and Gas Power Corporation (PV Power), Nghe An Sugar Company (NASU) and South Korea’s SK Innovation officially launched technical infrastructure works for the Quynh Lap LNG Thermal Power Plant project in Tan Mai Ward, Nghe An Province.
The USD 2.2 billion Quynh Lap LNG power project officially gets under way (Photo: Investor).
The project is considered a strategic energy development for Nghe An Province, the north-central region and Vietnam’s national power system.
Included in Vietnam’s Power Development Plan VIII approved by the prime minister, the project will generate electricity using liquefied natural gas (LNG). Total investment is estimated at over USD 2.2 billion.
The development includes a 1,500 MW LNG-fired thermal power plant, an LNG storage and regasification system with storage tanks of around 250,000 cubic metres, and a dedicated port within the Dong Hoi terminal area of Nghe An seaport.
Once operational, the project is expected to provide a stable and efficient electricity supply for the national grid, particularly in northern and north-central Vietnam. It is also intended to meet growing energy demand for industrial production, services, logistics and investment attraction in Nghe An Province.
By using LNG, regarded as a transitional fuel with lower emissions than conventional fossil fuels, the project is also expected to support Vietnam’s energy transition strategy, green development goals and Net Zero commitments.
Speaking at the groundbreaking ceremony, Vo Trong Hai, deputy secretary of the Nghe An Provincial Party Committee and chairman of the provincial People’s Committee, described Quynh Lap LNG as a key project contributing to national energy security and the supply of modern, environmentally friendly electricity.
The project is expected to become a new growth driver for both Nghe An Province and the wider north-central region. Local authorities said the implementation of a large-scale, high-technology energy project also reinforces Nghe An’s increasingly important role in regional connectivity and economic development.