A consortium comprising Vietnam’s state-owned power utility PV Power, local partner NASU, and South Korea’s SK Innovation, have launched construction works for the 1.5 GW Quynh Lap LNG power project in Nghe An Province, Vietnam (PV Power press release, 18/05/2026). The project is scheduled to start commercial operations by the end of 2030. Total investment costs are estimated at approximately USD2.3bn.
The development includes the construction of a 1.5 GW LNG-fired combined-cycle power plant, an LNG import terminal and LNG storage infrastructure. The project aims to support Vietnam’s power supply security while contributing to the development of high-tech industrial infrastructure in the region.
At the end of 2024, Vietnam had a total installed capacity of 89.7 GW, of which gas accounted for 8.3 GW (Enerdata’s Global Energy Research).
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