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US$2.3 billion LNG power plant approved in Quảng Trị Province

Update: October, 08/2021 - 15:35

 

Phạm Ngọc Minh, Head of the Economic Zone Authority of Quảng Trị Province, awarded the Decision on investment policy and approved the investor of the Hải Lăng LNG Power Plant to the consortium of investors. — Photo courtesy of T&T Group

QUẢNG TRỊ — The first phase of a new liquefied natural gas (LNG) power plant has been approved in Quảng Trị Province.

The People’s Committee of central Quảng Trị Province on Friday granted a decision to a consortium of T&T Group from Việt Nam, Korea Gas Corporation (KOGAS), Hanwha Energy Corporation (HANWHA) and Korea Southern Power (KOSPO) to approve the investment of VNĐ54 trillion (US$2.3 billion) Hải Lăng LNG power plant’s first phase.

Earlier on February 4, the then Prime Minister Nguyễn Xuân Phúc approved to add the power plant’s first phase with a total capacity of 1,500MW to the revised power master plan VII.

Specifically, T&T Group will contribute 40 per cent of the investment capital and three enterprises HANWHA, KOSPO and KOGAS will contribute 60 per cent to Quảng Trị’s key energy project, gradually contributing to realising the goal of the province becoming an energy hub in the central region by 2030.

Covering an area of 120ha, the project is located in Hải Lăng District’s Hải An and Hải Ba Communes. The project would have an LNG terminal receiving LNG carriers from 170,000 - 226,000 cu.m, 1.5 million tonnes of LNG a year and Hải Lăng Power Centre’s phase 1 with a capacity of 1,500MW.

Along with the use of clean LNG fuel, the project will contribute to minimising impacts on the environment, reducing greenhouse gas emissions, and ensuring environmental criteria according to international conventions Việt Nam has signed.

The project will concentrate all resources by domestic and foreign investors, ensuring commercial operation in the 2026-27 period.

Võ Văn Hưng, Deputy Secretary of the Provincial Party Committee, Chairman of the People's Committee, said: “We put our trust in T&T Group and South Korean partners. We are committed to continuing to support our partners to have effective investment in the province”.

Đỗ Quang Hiển, chairman and general director of T&T Group, said: “With an attractive investment environment and open mechanism, Quảng Trị Province has become one of the localities attracting a large number of domestic and foreign investors.

"The project has been approved within only eight months while ensuring full compliance with the provisions of law. This will be an international project with sustainable development value, contributing to ensuring national energy security; at the same time, contributing to the national clean energy source as well as promoting import and export turnover between Việt Nam and the world, including LNG power.”

"T&T Group and the consortium of South Korean investors are committed to making 300 – 500 per cent of our efforts, ensuring the project implementation in accordance with regulations, progress and quality," he added.

Energy is one of the seven key business areas of T&T Group. In addition to using available resources, the group has co-operated with many of the world's leading energy corporations to develop domestic projects to ensure national security and capacity, contributing to social-economic development. — VNS

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