US$2.3 billion LNG power plant approved in Quang Tri Province

Friday, Oct 08, 2021 15:35

Pham Ngoc Minh, Head of the Economic Zone Authority of Quang Tri Province, awarded the Decision on investment policy and approved the investor of the Hai Lang LNG Power Plant to the consortium of investors. — Photo courtesy of T&T Group

The first phase of a new liquefied natural gas (LNG) power plant has been approved in Quang Tri Province.

The People’s Committee of central Quang Tri Province on Friday granted a decision to a consortium of T&T Group from Viet Nam, Korea Gas Corporation (KOGAS), Hanwha Energy Corporation (HANWHA) and Korea Southern Power (KOSPO) to approve the investment of VND54 trillion (US$2.3 billion) Hai Lang LNG power plant’s first phase.

Earlier on February 4, the then Prime Minister Nguyen Xuan Phuc 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 Quang Tri’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 Hai Lang District’s Hai An and Hai 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 Hai Lang 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 Viet Nam has signed.

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

Vo Van Hung, 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”.

Do Quang Hien, chairman and general director of T&T Group, said: “With an attractive investment environment and open mechanism, Quang Tri 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 Viet 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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