Work starts on US$2.7 billion LNG power plant in Hung Yen
Powered by LNG-based combined-cycle turbines, the plant will supply 6 billion–10 billion kWh annually while cutting CO₂, NOx and PM2.5 emissions and producing no SO₂, contributing to Vietnam’s 2050 net-zero goal.
THE HANOI TIMES — Vietnam on October 10 broke ground on the US$2.7-billion Thai Binh LNG Power Plant in the northern province of Hung Yen, marking a major step toward strengthening national energy security, especially in the north, where power demand accounts for 40% of the country’s total and continues to grow by over 10% annually.
The groundbreaking ceremony of the US$2.7-billion LNG Power project opens on October 10. Photos: VGP
The project is developed by Thai Binh LNG Power JSC, which is managed by three investors, namely Tokyo Gas (40%), Kyuden International (30%) and Vietnam’s Truong Thanh Group (30%).
The plant is designed to have a capacity of 1,500 MW and covers 269 hectares, including 212 hectares of marine area. It is expected to begin commercial operation in late 2029.
Using combined-cycle gas turbines powered by liquefied natural gas, the plant will help reduce CO₂, NOx and PM2.5 emissions while producing no SO₂, supporting Vietnam’s net-zero commitment by 2050.
Once operational, it will supply 6 billion –10 billion kWh annually, create around 2,000 construction jobs and 300 permanent positions and contribute an estimated VND3 trillion (US$120 million) to the state budget each year.
Japanese Ambassador Ito Naoki called the project “a symbol of clean energy cooperation between Japan and Vietnam.”
Meanwhile, Chairman of the Hung Yen People’s Committee Nguyen Khac Than said the project aligns with the province’s goal of developing clean and renewable energy as a strategic pillar for fast and sustainable growth and positioning Hung Yen as an energy hub of the Red River Delta, adding to Vietnam’s energy transition.
A LNG complex managed by Petrovietnam Gas Joint Stock Corp.
Removing bottlenecks to accelerate key energy projects
Deputy Prime Minister Bui Thanh Son has urged ministries and localities to promptly resolve obstacles and speed up key energy projects delayed due to site clearance, investor selection and construction.
In a document issued on October 8, the deputy prime minister asked provincial authorities to coordinate with the Ministry of Industry and Trade and the Ministry of Finance to finalize investor selection by the 4th quarter of 2025, ensure clear project timelines and strengthen supervision to address bottlenecks.
The Ministry of Industry and Trade was tasked with restructuring the State Steering Committee on key energy projects in October, updating the list of major power projects under the Power Development Plan VIII and tightening measures against investors who delay implementation.
Deputy PM Son also requested Vietnam National Industry - Energy Group (Petrovietnam) to speed up the Block B – O Mon gas-to-power chain, complete the feasibility study for O Mon III by October 15 and resolve issues at Ky Ha Port and the Chu Lai gas pipeline within October.
For the Vietnam Electricity (EVN), he required maintaining the schedule of the Quang Trach I thermal power project for electricity generation by December 2025 and beginning construction of Quang Trach II the same month. Meanwhile, the Tri An Hydropower Expansion Project must receive full site clearance by October 15.
He also urged EVN to mobilize resources to restore power transmission systems damaged by Typhoon Matmo and ensure an uninterrupted electricity supply nationwide.
