Vietnam's first LNG-to-power project inks power purchase agreement
PV Power, a subsidiary of state-owned Petrovietnam, has signed a power purchase agreement (PPA) with an unit of state utility Vietnam Electricity (EVN) for output from the Nhon Trach 3 and Nhon Trach 4 power plants.
The two plants are Vietnam's first LNG-to-power projects.
PV Power and EVN Electric Power Trading Company (EVNEPTC) signed the PPA on Friday, reaching a milestone in facilitating commercial operations of both plants.

Executives of PV Power and EVNEPTC sign a power purchase agreement (PPA) for the Nhon Trac 3 and 4 LNG-to-power plants in Hanoi, October 4, 2024. Photo courtesy of PV Power.
With no precedents regarding LNG-to-power projects in the country, PPA negotiation was a challenging process, PV Power said.
Negotiations began in 2019 under the supervision of the Government, the Ministry of Industry and Trade, EVN, Petrovietnam and the Commission for Management of State Capital at Enterprises (CMSC).
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.
PV Power is the main investor for the 1,600 MW, $1.4 billion Nhon Trach 3 and Nhon Trach 4 plants in the southern province of Dong Nai. It is expected to provide nine billion kWh of electricity to the national grid annually.
Construction of the project began in 2021. Nhon Trach 3 is ready to make its "first fire" later this month and begin commercial operation in April 2025. Nhon Trach 4 is set for its "first fire" in December 2024 and begin commercial operation in July 2025.
Vietnam is yet to have a power plant 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.
- Read More
Investors advised to take profits from stocks having risen sharply
Investors should maintain a balanced stock allocation in their portfolios and consider buying opportunities if the VN-Index retreats to the 1,300-1,320 point range, say market experts.
Finance - Sun, June 1, 2025 | 8:10 pm GMT+7
Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report
Shares of Phu Nhuan Jewelry JSC (PNJ), a leading jewelry producer in Vietnam, rallied sharply ahead of the central bank’s Friday release of its gold market inspection findings.
Companies - Sun, June 1, 2025 | 1:14 pm GMT+7
Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand
Emall Vietnam, which owns a network of 100 high-end business shoe stores under the Pierre Cardin and Oscar brands in Vietnam, has taken over the entire Pierre Cardin shoe system in Thailand.
Companies - Sun, June 1, 2025 | 10:29 am GMT+7
Southern Vietnam province Ba Ria-Vung Tau okays 53 projects
Ba Ria-Vung Tau authorities on Friday granted in-principle approvals or investment registration certificates for 53 projects, including a green light for a $400 million investment capital hike of the $5.4 billion Long Son Petrochemicals Complex.
Industries - Sun, June 1, 2025 | 8:00 am GMT+7
Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland
Novaland, a major real estate developer in Vietnam, will simultaneously implement plans to issue bonus shares and offer ESOP (employee stock ownership plan) shares, with a total issuance rate of 5%, equivalent to more than 97 million units.
Companies - Sat, May 31, 2025 | 11:09 pm GMT+7
Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed
Billionaire Pham Nhat Vuong has registered to transfer more than 48 million Vingroup (VIC) shares to the newly-established VinSpeed that registered to build the North-South high-speed railway project.
Infrastructure - Sat, May 31, 2025 | 7:14 pm GMT+7
Two investors propose $65 mln wind power project in central Vietnam
A consortium of Quang Tri Renewable Energy Investment JSC and Win Power Holding Pte Ltd, and Nam Binh Wind Power JSC have submitted an application to implement a 48-megawatt wind power plant in the central province of Quang Tri.
Energy - Sat, May 31, 2025 | 3:10 pm GMT+7
Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project
The central city of Danang is calling for investment in an LNG and LPG terminal project worth over VND5.43 trillion ($208.7 million).
Infrastructure - Sat, May 31, 2025 | 10:52 am GMT+7
Thai-backed food giant C.P. Vietnam rejects pork safety accusations
C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), has dismissed social media allegations of selling diseased pork, calling them fabricated and false.
Companies - Sat, May 31, 2025 | 8:54 am GMT+7
Oman Investment Authority to expand investment fund in Vietnam
Prime Minister Pham Minh Chinh has proposed Oman to enlarge the Vietnam-Oman Investment Fund (VOI) to $1 billion to better cater for the Southeast Asian country's investment needs.
Economy - Fri, May 30, 2025 | 11:26 pm GMT+7
Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta
Retail giant Aeon will develop a 2-hectare mall in the Mekong Delta province of Tien Giang, with an estimated investment of VND1.16 trillion ($44.6 million).
Industries - Fri, May 30, 2025 | 4:44 pm GMT+7
76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC
Vietnamese businesses have experienced exponentially higher cost increases than the global average and are expecting additional short-term costs due to trade uncertainty. But many survey respondents (76%) think trade uncertainty has encouraged their business to evolve and explore new opportunities, write HSBC analysts.
Consulting - Fri, May 30, 2025 | 2:41 pm GMT+7
Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export
After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.
Companies - Fri, May 30, 2025 | 2:37 pm GMT+7
AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal
TTC AgriS (Thanh Thanh Cong-Bien Hoa JSC or AgriS) and International Finance Corporation (IFC) - a member of the World Bank Group - has signed an MoU to strengthen sustainable development governance in alignment with global standards.
Companies - Fri, May 30, 2025 | 2:30 pm GMT+7
Vietnam's stock market attractively priced: Finnish fund PYN Elite
Vietnam’s stock market is attractively priced, with a price-to-sales (P/S) ratio of 1.3, said Petri Deryng, portfolio manager at Finnish investment fund PYN Elite.
Finance - Fri, May 30, 2025 | 2:09 pm GMT+7
S Korea's SK Group eyes 3 LNG power projects in Vietnam: chairman
SK Group, South Korea’s second-largest chaebol, is exploring several LNG-fueled power projects in Vietnam, including three proposed to be included in the country's green growth project portfolio, said chairman Tae-Won Chey.
Energy - Fri, May 30, 2025 | 1:37 pm GMT+7