PetroVietnam Power has appointed two Vietnamese banks - Techcombank and Military Bank - to arrange a US$1.4bn syndicated loan package for the construction of the Nhon Trach 3 and 4 LNG-to-power power plants totalling 1,500 MW in the southern province of Dong Nai (Vietnam). The power projects, which were approved by the government in 2018, should enter commercial operations in the fourth quarter of 2022.
In September 2021, PetroVietnam signed a joint venture agreement with AES Corporation to establish and operate the 3.6 Mt/year Son My LNG import terminal in the central province of Binh Thuan (Vietnam). The project’s capacity could be expanded to 9 Mt/year at a later stage. Commissioning is scheduled in 2025-2026. The terminal will receive, process, and supply reprocessed LNG as fuel for the Son My 2 CCGT project (2.2 GW), operated by AES, which should also enter operations in 2025.
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