The joint venture of PV Power, Colavi, Tokyo Gas, and Marubeni is behind schedule for the completion of the $2 billion Quang Ninh liquefied natural gas (LNG) power plant.
|Investors are behind in the $2 billion Quang Ninh LNG power plant construction, which kicked off in October last year |
Quang Ninh People’s Committee last week said the process of the Quang Ninh LNG power plant was behind the set timetable initially laid out by the investors.
Deputy Chairman of the committee Cao Tuong Huy said that the investors initially planned to complete investment procedures by the end of the first quarter of 2022, to start construction the following quarter, and finish the project in late 2027.
“However, to date, the investors have only just completed procedures for the investment registration certificate. The joint venture has yet to establish a legal entity to implement the project, simultaneously causing delays in building the feasibility study,” Huy said. “The reason for this delay comes from the investors’ lack of determination, as well as difficult procedures to add the LNG specialised port into the detailed planning for seaport groups.”
|To date, the investor has just completed the procedures for the investment registration certificate. The joint venture has yet to establish a legal entity to implement the project, simultaneously causing delays in the feasibility study. |
Quang Ninh People’s Committee has asked the joint venture to accelerate establishing a legal entity to build a feasibility study to submit to the Ministry of Industry and Trade for appraisal this month.
The province requires Cam Pha People’s Committee to hand over land to the investor in November this year. Thus, the join venture must also accelerate procedures for building the fence and levelling the site after the land handover.
Covering 56 hectares, including 13.38ha offshore, in Cam Pha city, the Quang Ninh LNG power project will include a 1,500MW power plant, gas storage, and an LNG port with an annual capacity of 2.4 million tonnes.
Around 1.1 million tonnes of LNG materials will be imported from Australia, Qatar, Russia, and the United States to support the plant's operation.
| ||AES Corporation and PV Gas push ahead with Son My LNG Terminal |
The representatives of AES and PetroVietnam Gas JSC (PV Gas) were granted an investment registration certificate for the Son My LNG terminal, which is expected to play an important role in supporting Vietnam’s energy transition and economic growth.
| ||Investors getting on board the LNG train |
Liquefied natural gas-to-power remains an important part of Vietnam’s energy transition story, and investors – both local and international – continue to demonstrate a strong interest in the sector.
| ||GE secures first 9HA combined cycle power plant order in Vietnam |
PV Power’s Nhon Trach 3 & 4 will be the first 9HA-gas-turbine-powered plant in Vietnam, as well as the first to be powered by liquefied natural gas (LNG).
| ||Developers expect smoother LNG policy planning |
The government has asked the Ministry of Industry and Trade to clarify the planning data and feasibility of liquefied natural gas power development towards 2030, which has set a target of almost 24,000MW, accounting for 16.4 per cent of the total power source in the nation’s draft master power plan.
| ||Suggested removal of 14,120MW of thermal power |
The Ministry of Industry and Trade (MoIT) has proposed removing 14,120MW of thermal power from the draft of the National Power Development Plan VIII to match the government’s net-zero targets.
By Oanh Nguyen