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

By Ta Nguyen
Mon, November 7, 2022 | 4:12 pm GMT+7

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.

An artist’s impression of the Quang Ninh LNG-to-power project. Photo courtesy of the investors.

An artist’s impression of the Quang Ninh LNG-to-power project. Photo courtesy of the investors.

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.

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