Deputy Minister of Industry and Trade Nguyen Hoang Long on March 12 had a working session with GS Energy Corporation from the Republic of Korea to debate energy investment cooperation in Vietnam.
Speaking at the working session, the Deputy Minister of Industry and Trade highly appreciated GS Energy's contributions to Vietnam's energy sector, particularly through the Long An I and II LNG Power Plants, which play a crucial role in ensuring a stable electricity supply for the region.
Mr. Jin Hyuong Loh, Director of GS Energy’s Energy Investment, said that the corporation is one of South Korea’s largest private energy firms, operating in three key sectors comprising petrochemical refining, power generation, and LNG (Liquefied Natural Gas) trading. GS Energy has over 20 years of experience in LNG import and distribution and owns seven large LNG storage facilities.
At the current time, the Long An I and Long An II LNG Power Plant projects are in the process of completing legal procedures, including feasibility study evaluation, negotiation of the power purchase agreement (PPA), and signing a grid connection agreement with the National Power Transmission Corporation. Besides, the projects are in the process of working with PV Gas regarding gas pipeline infrastructure.
Deputy Minister of Industry and Trade Nguyen Hoang Long affirmed that the ministry would facilitate the implementation of the project as planned in accordance with the National Electricity Development Plan 2021-2030 (PDP8).
It is expected that the power purchase agreement will be completed by the end of 2025, the LNG power plant projects shall be commenced at the beginning of 2026 and put into operation in 2029.
Accordingly, the Long An I and Long An II LNG Power Plant projects have been designed with a total capacity of 3,000MW and have an investment of US$3.13 billion. The Ministry of Agriculture and Environment approved the brief report regarding the environmental impact assessments for the projects.
The Long An I and Long An II LNG Power Plants will be built in Can Giuoc District, Long An Province.
