Currently, Vietnam lacks operational gas-to-power plants, but the country has plans to have four such facilities with a combined capacity of 6,634 MW operational by 2030.
In a report addressed to the Prime Minister by the Ministry of Industry and Trade regarding gas-fired and offshore wind power projects, it is clarified that the only operational gas-to-power plant, the 660-MW O Mon 1 located in the Mekong Delta city of Can Tho, is actually utilizing oil as its fuel source. This plant is expected to transition to gas fuel once supplies from Block B become accessible.
Two significant gas-to-power facilities currently under construction are Nhon Trach 3 and Nhon Trach 4. Construction on this USD 1.4 billion project, with a total capacity of 1,620 MW, commenced in 2021, beginning with ground leveling. These facilities will rely on liquified natural gas (LNG) supplied from the LNG Thi Vai terminal situated in the southern coastal province of Ba Ria-Vung Tau.
According to the ministry’s report, power plants with the potential to become operational by 2030 include a sub-project of the O Mon power hub, Nhon Trach 3, Nhon Trach 4, and Hiep Phuoc.
Furthermore, the report highlights investors’ demand for power purchasing agreements (PPAs) that incorporate government guarantees, exchange rate-related assurances, and long-term commitments from state utility Vietnam Electricity (EVN) to purchase power.
(Source: The Investor)
