Vietnam’s first LNG-to-power plants set to connect to grid mid-Nov
Nhon Trach 3 and Nhon Trach 4 power plants, the first LNG-to-power plants in Vietnam and located in the southern province of Dong Nai, are set to connect to the grid later this month.
According to Dong Nai's Department of Industry and Trade, the 500 kV Nhon Trach 4 – Phu My – Nha Be power line, one of the four power lines designated for the two power plants, is set to operate on November 15.
The power line has completed all 15 bases and is installing wires.
The site of the Nhon Trach 3 & 4 LNG power plant projects in Nhon Trach district, Dong Nai province, southern Vietnam. Photo courtesy of PetroTimes magazine.
Construction of the project began in 2021. Nhon Trach 3 is ready to begin commercial operation in April 2025, while Nhon Trach 4 is set for commercial operation in July 2025.
PV Power, a subsidiary of state-owned Petrovietnam, is the main investor of the 1,600 MW Nhon Trach 3 and Nhon Trach 4 plants, with total investment of $1.4 billion.
They are expected to provide nine billion kWh of electricity to the national grid annually, and contribute VND18 trillion ($711.75 million) to the provincial budget annually.
In October, PV Power and EVN Electric Power Trading Company (EVNEPTC), under state utility Vietnam Electricity (EVN), signed a power purchase agreement (PPA) for the power plants.
It was a milestone in facilitating commercial operations of both plants. With no precedents regarding LNG-to-power projects in the country, PPA negotiation was a challenging process, PV Power said.
Signing the PPA will help PV Power reach a gas sale agreement (GSA) soon under its annual commitment to buy LNG and access loans from international bodies.
- Related News
- Read More
Sweden's Bulten, China's ZJK team up to make micro screws in Vietnam
Sweden’s Bulten and China’s ZJK Precision Parts will jointly manufacture micro screws in Vietnam, targeting production from 2025, the former said Wednesday.
Industries - Fri, December 20, 2024 | 12:02 pm GMT+7
Japan’s Meiko Electronics to invest extra $300 mln in Vietnam to make printed circuit boards
Meiko Electronics Vietnam Co. Ltd., under Japanese printed circuit board (PCB) manufacturer Meiko Electronics, will invest $300 million more in Hanoi, raising its total investment in the capital city to $800 million.
Industries - Fri, December 20, 2024 | 11:51 am GMT+7
Supply of apartment units in Vietnam may rise 33% next year: expert
Vietnam’s property market is expected to see the entry of 35,000-40,000 apartment units in 2025, up 33% from 2024, says Duong Thuy Dung, executive director, head of professional services at CBRE Vietnam.
Real Estate - Fri, December 20, 2024 | 9:23 am GMT+7
Singapore-invested Vietnam SuperPort, Vietnam Post partner in digital logistics
Vietnam SuperPort and state-controlled Vietnam Post (VNPost) have signed an MoU on developing customized platforms to support small and medium-sized enterprises (SMEs) in exporting goods to Asian markets.
Economy - Fri, December 20, 2024 | 8:17 am GMT+7
Daughter of Vietnam agribusiness HAGL’s chairman registers to buy more company shares
Doan Hoang Anh, daughter of HAGL chairman Doan Nguyen Duc, has registered to purchase 1 million HAGL shares amid a 20% increase in the stock’s value over the past three months.
Companies - Thu, December 19, 2024 | 9:38 pm GMT+7
Property giant Vinhomes raises additional $157 mln in bonds
Leading housing developer Vinhomes successfully raised VND4 trillion ($157 million) in private placement bonds on Tuesday, according to the Hanoi Stock Exchange (HNX).
Companies - Thu, December 19, 2024 | 9:28 pm GMT+7
E-visas available at all Thai embassies, consulates from January 1, 2025
Intending visitors to Thailand will be able to apply online for an e-visa at Thai embassies and consulates worldwide from January 1, 2025.
Southeast Asia - Thu, December 19, 2024 | 8:04 pm GMT+7
Indonesia rolls out $51.65 bln stimulus package for 2025
The Indonesian government has unveiled a series of economic stimulus packages totaling Rp827 trillion ($51.65 billion) for 2025, designed to mitigate economic shocks and address the weakening purchasing power of low- and middle-income groups.
Southeast Asia - Thu, December 19, 2024 | 8:03 pm GMT+7
Malaysia accelerates electric vehicle growth
Malaysia’s electric vehicle (EV) industry is accelerating, with over 100,000 electrified vehicles recorded and more than 3,300 charging stations established nationwide to date, positioning the country as a key regional hub for EV innovation.
Southeast Asia - Thu, December 19, 2024 | 8:00 pm GMT+7
EV maker VinFast plans $140 mln resort project in northern Vietnam
VinFast, an electric vehicle maker under Vietnam’s private conglomerate Vingroup, seeks to build a resort-recreation-park project worth VND3.5 trillion ($137.5 million) in the northern coastal city of Hai Phong.
Real Estate - Thu, December 19, 2024 | 7:57 pm GMT+7
Chinese investment capital shifts to green energy, electronics, automobiles: official
Chinese direct investment in Vietnam has traditionally focused on the manufacturing sector and it is now transitioning toward green energy, electronics, and automobiles.
Industries - Thu, December 19, 2024 | 4:30 pm GMT+7
BP seeks to help long-delayed power plant in central Vietnam with coal-to-LNG conversion
British oil-gas giant BP seeks to help the Cong Thanh coal-fired power project in Thanh Hoa province with its transition into an LNG-fired plant, said Chris Bramley, vice president of integrated gas & power at BP.
Energy - Thu, December 19, 2024 | 3:48 pm GMT+7
Vietnam refinery operator BSR plans listing in Jan next year
Binh Son Refining and Petrochemical JSC (BSR), the operator of Vietnam’s first oil refinery Dung Quat, plans to list its shares on the Ho Chi Minh Stock Exchange (HoSE) on January 17, 2025.
Companies - Thu, December 19, 2024 | 3:23 pm GMT+7
The 'key' that helps Phu Quoc make a 'leap' to become global destination
The famtrip “Journey to Paradise Island” from December 4-6, 2024 has brought Phu Quoc to the center of attention of the tourism industry in the world.
Travel - Thu, December 19, 2024 | 2:10 pm GMT+7
Dollar index reaches 2-year high, Vietnam’s exchange rate hits new peak
The exchange rate in Vietnam made a new peak on Thursday as the State Bank of Vietnam, the country’s central bank, increased its central exchange rate by VND26, or 0.11%, to VND24,304 per USD.
Banking - Thu, December 19, 2024 | 11:59 am GMT+7
Chip giant Synopsys opens office in Hanoi, fourth in Vietnam
Synopsys, a leading chip business based in California, opened its Hanoi office on Wednesday, the fourth in Vietnam after two in Ho Chi Minh City and one in Danang city, furthering its involvement in Vietnam’s semiconductor sector.
Companies - Thu, December 19, 2024 | 11:32 am GMT+7
