The Cong Thanh Thermal Power Joint Stock Company (investor of the Cong Thanh LNG Power Project) and the Consortium of Doosan Enerbility (South Korea) – Power Construction Consulting Joint Stock Company 2 (PECC2) have just signed a principle agreement to implement the Cong Thanh LNG Power Plant project with a capacity of 4,500 MW (phase 1: 1,500 MW; phase 2: 3,000 MW).
Doosan and PECC2, with their experience in large power projects such as Vinh Tan, Vinh Tan 4 expansion, and O Mon 4, are expected to bring valuable EPC, consulting, and technological expertise to the Cong Thanh LNG project.
The Cong Thanh Thermal Power Project was initially commenced in 2011 with a planned capacity of 600 MW utilizing coal, and an initial investment of approximately $1.2 billion. According to the plan, the two generators were to be operational by 2014.
However, after more than a decade, the construction remains incomplete with only the gate, perimeter wall, and land reclamation finished, while the nearly 200-hectare site remains untouched. The main challenges included changes in shareholders, difficulties in capital arrangement, and policy barriers related to coal-fired power.
In this context, the investor proposed a shift to imported liquefied natural gas (LNG) while expanding the scale to 4,500 MW. Phase 1 will have a capacity of 1,500 MW, and phase 2 will be 3,000 MW, employing combined-cycle gas turbine technology, in line with the orientation of developing clean energy and reducing coal-fired power.
The total investment for phase 1 is estimated at VND 47,000 billion, with an expanded land area of 197.3 hectares, including the main power plant, LNG storage facility, gas pipeline, and cooling water system.
Once operational, the plant is expected to provide approximately 9 billion kWh of electricity annually, significantly contributing to the power supply in the North and high-load areas. The project has been included in the adjusted Power Development Plan VIII, with the operation timeline falling between 2026-2030 or 2031-2035, depending on the progress of the national power system.
A crucial challenge is the connection to the national grid. Options under consideration include connecting to the 500 kV substations in Hung Yen, South Hanoi, or Long Bien, with the final choice determining the timeline and capacity utilization of the plant.
In parallel with the plant construction, the project must also synchronously implement the LNG storage facility, gas pipeline, and logistics system – components that entail substantial costs, complex technical requirements, and direct exposure to international LNG price fluctuations. Moreover, arranging foreign currency financing from external financial institutions is another hurdle, as the project demands long-term foreign capital and credit guarantee commitments.
Notably, the SK Group (South Korea) has expressed interest in the Cong Thanh LNG project. With a capitalization of nearly $200 billion and extensive investment experience in Vietnam, SK is exploring the development of an LNG industrial chain linked to industrial hubs in Thanh Hoa, Nghe An, Ca Na, and Ca Mau.
In April 2025, SK representatives worked with the Ministry of Industry and Trade, signifying their intention to further engage in LNG projects in Central and Northern Vietnam.
“KN Holdings and Samsung C&T Collaborate on Floating Solar Project”
“KN Holdings is proud to announce its collaboration with Samsung C&T to develop three floating solar power projects, totaling an impressive 864 MW of expected capacity. This partnership aims to provide clean energy to large power consumers, showcasing a commitment to sustainability and innovation in the energy sector.”
Unveiling Two New Strategic Pillars: Vingroup Proposes a Special Initiative with Phu Quoc Special Zone as the Epicenter
Vingroup, Vietnam’s leading conglomerate, has unveiled an exciting strategic expansion, diversifying into two new pivotal areas: Infrastructure and Green Energy.
Powering Up: Illuminating the 500kV Nhon Trach 4 – Phu My – Nha Be Route
The National Power Transmission Corporation (EVNNPT) and the Southern Power Projects Management Board (SPMB) successfully energized the 500kV Nhon Trach 4 – Phe My – Nha Be power line project on the evening of December 27, in collaboration with relevant units.
“LNG Power Producer Seeks Direct Access to Consumers, Bypassing EVN”
The LNG-to-power plants aim to sell electricity directly to large industrial consumers, such as factories and industrial parks. With their efficient and reliable power generation capabilities, these plants offer a competitive advantage to energy-intensive industries, ensuring a stable and consistent supply of electricity. By bypassing the traditional utility providers, these plants can offer competitive pricing and tailored energy solutions to their industrial customers, revolutionizing the way energy is consumed and empowering businesses with greater control over their energy costs and sustainability practices.
A Plethora of Incentives: Unlocking the Potential of Renewable Energy and Powering a Sustainable Future
The Ministry of Industry and Trade is drafting a decree detailing certain articles of the Law on Power and Renewable Energy Development.
