LNG

Securing project finance and offtake commitments are at the core of an in-principle agreement (AiP), signed between Cong Thanh Thermal Power JSC, Korea’s Doosan Enerbility and the PECC2 construction group for the 4,500 MW Cong Thanh LNG-to-power project. Phase 1 entails a 1.5 GW plant, to be scaled by to 3 GW at a later stage.

PetroVietnam has begun construction of the VND27.7 trillion ($1.05 billion) O Mon IV power plant in the Mekong Delta. LNG imports – through terminals in Thi Vai and potentially Son My – could serve as backup feedstock to ensure project timelines for the 1.1 GW plant, given that domestic fuel supply from Block B is delayed.