Vietnam’s first LNG-to-power complex completes land lease, readies ‘first fire’

The $1.4-billion Nhon Trach 3 and Nhon Trach 4 LNG-to-power complex, the first of its kind in Vietnam, has basically completed related land lease tasks.

PV Power, a subsidiary of state-owned Petrovietnam, informed its parent firm on Thursday that it was also preparing to “first fire” one of the plants this September.

As of end-June, the 1,600-MW project had completed 88.6% of its EPC (engineering, procurement and construction) contract, PV Power added.

PV Power also reported on the progress made with other LNG-to-power projects including Nghi Son, Vung Ang 3, Ca Mau 3, and Quynh Lap; electric vehicle charging stations; and hydropower projects.

According to power generator’s plan, Nhon Trach 3 and 4 plants will enter commercial operations in November 2024 and May 2025, respectively. The complex will be able to supply nine billion kWh to the national grid per year.

In the first half of 2024, PV Power’s electricity generation reached 8.37 billion kWh, equivalent to 96% of the target for the period, unchanged from H1/2023.

The firm reaped a pre-tax profit of VND725 billion ($28.6 million) and paid VND325.4 billion to the state budget.

Vietnam has yet to have any power plants that exclusively uses LNG as fuel. Some gas-fired power plants like Phu My 3, Phu My 2.1 and Phu My 4 have switched to use LNG as fuel from April onwards.