Accordingly, the Quang Tri Provincial People’s Committee, T&T Group, and SK E&S (a subsidiary of SK Group) agreed to enhance information exchange and collaborate on investment, trade, energy transition, and green growth in Quang Tri province across various sectors.
Specifically, The parties will collaborate to promote the conversion of the Quang Tri Thermal Power Plant from coal-fired to environment-friendly LNG; develop low-carbon emission reduction projects, including a green hydrogen production project; initiate projects related to carbon credits; conduct research to establish a central LNG hub; and encourage investment research or support Quang Tri province in attracting investment in other potential and sustainable development fields.
Speaking at the signing ceremony, Mr. Vo Van Hung, Chairman of Quang Tri Provincial People’s Committee, said that Quang Tri province had approved the T&T and SK E&S consortium to research, survey, and prepare a project conversion file for the Quang Tri Thermal Power Plant from coal-fired to environment-friendly fuel, while also determining the project’s objectives, scale, and investment capital, project implementation timeline, etc.
This is one of the critical contents for the parties to cooperate in developing and urging competent authorities to approve the project’s technology conversion from coal to LNG; propose the inclusion of the LNG project in the Implementation Plan of Power Plan VIII and submit it to competent authorities for review and approval to lay the groundwork for subsequent steps.
The leaders of Quang Tri Provincial People’s Committee pledged to facilitate the T&T Group and SK E&S consortium during their research, survey, and preparation of project proposals for investment in the aforementioned fields per Vietnamese law.
According to Ms. Nguyen Thi Thanh Binh – Deputy General Director of T&T Group, with its existing synchronous infrastructure, high-quality human resources, and T&T Group’s prestige, capacity, and solid financial resources, combined with SK E&S’s experience, technology, and management – a leading Korean energy company, this cooperation will positively contribute to the energy transition and green growth in Quang Tri province, aiming to strive to make Quang Tri a central energy hub of Central Vietnam and the whole country by 2030, in line with Quang Tri province’s development plan and objectives.
Previously, within the framework of the Vietnam – Korea Business Forum held in Hanoi in June 2023, T&T Energy (a member of T&T Group) and SK E&S also signed a memorandum of understanding on cooperation in the LNG power sector.
T&T Energy and SK E&S will partner to develop an LNG port and power plant aligned with Vietnam’s development orientations and legal regulations. According to the agreement, SK E&S will be responsible for seeking financial resources to support project implementation.
Also within the framework of Quang Tri province’s trade promotion program in Korea, on April 23, Chairman of the Quang Tri Provincial People’s Committee Vo Van Hung met with the joint venture of T&T Group, Hanwha Energy Corporation (HEC), Korea Gas Corporation (KOGAS), and Korea Southern Power Corporation (KOSPO) to accelerate the progress of the Hai Lang LNG project, Phase 1 – 1,500 MW.
Accordingly, the Hai Lang LNG power project – phase 1 is a driving project of Quang Tri province and a national key project to stabilize energy security. Therefore, the leaders of Quang Tri province requested that the investor consortium promptly handle the project’s tasks and accelerate the completion of project dossiers and legal procedures.
The joint venture of T&T Group – Hanwha – KOGAS – KOSPO committed to meeting the project schedule and putting the first turbine into commercial operation in the second quarter of 2029, in line with the schedule in the implementation plan of Power Plan VIII approved by the Prime Minister.
The investors also requested that the Quang Tri Provincial People’s Committee provide support in land clearance; recommend to the government, the Ministry of Industry and Trade, and EVN to approve the proportion of electricity consumption from the project (85%-90%) to ensure the feasibility of capital arrangement; and promptly approve the connection plan and expedite the completion of transmission lines and transformer stations to align with the project’s COD schedule and other critical contents.
SK E&S is an energy company under SK Group – the second-largest private conglomerate in South Korea. SK Group owns an ecosystem of 304 subsidiaries and branches operating in diverse sectors such as chemicals, semiconductors, telecommunications, and biotechnology.
