The PetroVietnam Gas Joint Stock Corporation (PV GAS) has become the first long-term supplier of liquefied natural gas (LNG) power in Vietnam, and currently the only one.
The corporation recently signed a contract with Petrovietnam Power Corporation (PV Power) to provide LNG power for the commercial operations of Nhon Trach 3 and 4 thermal power plants, which PV Power manages, for 25 years.
The agreement was the extension of a trial period during which PV GAS provided LNG power for the power plants, since the fourth quarter of last year.
The two power plants are the key national energy constructions, located in Ong Keo Industrial Park in southern Dong Nai province. They have a combined capacity of 1,624 megawatt (MW) and cost 1.4 billion USD to build.
They will add about 9 billion kWh of electricity per year to the national power grid when going into operation.
The two power plants are the only LNG power project that has been implemented and operated on schedule, among the 13 LNG electricity production projects in the National Power Development Plan VIII.
This long-term deal affirms PV GAS’s position as a pioneering and leading enterprise in the gas and LNG sector in Vietnam, and the only company capable of meeting the economy’s growing demand for clean energy.
The deal also plays a significant role in the national energy transition process, helping to recognise the Government’s commitment for net-zero by 2050 and contribute to the National Power Development Plan VIII./.
(VNA)
