LNG-to-Power Project, $30 Billion in Offshore Wind Targeted for Vietnam

Power generation projects both thermal and renewable continue to be announced for Southeast Asia, with Vietnam taking a lead role with both onshore and offshore power generation installations. Details of a large liquefied natural gas (LNG)-to-power project were announced Sept. 13, just days after the country’s T&T Group and Denmark’s Ørsted said they are prepared to invest $30 billion support offshore wind power development for Vietnam.

T&T Group, a multi-industry conglomerate, on Monday said the company had a memorandum of understanding (MOU) with Malaysia’s JAKS Resources Berhad, with the companies discussing collaboration on development of the 1,500-MW Quang Ninh 2 liquefied natural gas (LNG)-to-power project in Vietnam.

“T&T Group has planned a strategy to develop renewable energy and gas-to-power projects by 2030 with a vision to 2045, in line with the national strategy and planning of energy,” said Do Quang Hien, chairman of T&T Group, in a statement Friday after that day’s announcement with Ørsted. “This cooperation will help T&T Group accelerate the implementation of this strategy, bring valuable international experience and financial resources in the implementation of projects in Vietnam.”

The MOU with JAKS, signed Saturday at the Vietnamese embassy in Helsinki, Finland, means JAKS and T&T Group will work together on the Quang Ninh project, including determining the project’s location, design, and technology, as well as the infrastructure involved for the import terminal and the power plant. The two companies also will jointly select the LNG and gas-fired power equipment suppliers.

T&T Group said it would be responsible for all legal matters pertaining to the project, while JAKS will serve as the strategic investor, and also will be responsible for the engineering, construction, and commission process.

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