Japan-Vietnam consortium registers to build 1.5-GW LNG power plant

A consortium between Tokyo Gas and Marubeni Corp. of Japan and two Vietnamese firms has received a business registration certificate from Quang Ninh’s administration for its 1.5-gigawatt LNG-to-power in the northern province.

The legal entity that will develop the project in Cam Pha town is Quang Ninh LNG Power JSC, and its chartered capital is VND100 billion ($4.02 million), according to the newest registration.

The four-party consortium - a joint venture between PV Power and Colavi JSC of Vietnam and Tokyo Gas and Marubeni - received an investment license last October for the project, which once completed would be the first power plant using imported LNG in the northern region.

PV Power, a Petrovietnam member, approved the charter of Quang Ninh LNG Power JSC on September 9, therefore will contribute 30% of the entity’s chartered capital.

To date, no LNG-to-power plants operate in Vietnam. In all, nine LNG-to-power projects have received investment certificates or in-principle agreements as independent power producers. Of these five found investors and could enter the phase of negotiating a purchase power agreement PPA with state utility Vietnam Electricity, or EVN.