A consortium comprising SK Innovation, PetroVietnam Power Corporation (PV Power), and NASU has been designated as the project developer for the Quynh Lap LNG Power Project in Nghe An Province, Vietnam. The project, valued at approximately USD2.3 billion, is set to become the country’s largest LNG-to-power development.
The project scope includes the construction of a 1.5 GW gas-fired power plant, a 250,000 cubic metre LNG storage terminal, and a dedicated port facility in the Quynh Lap area, located around 220 km south of Hanoi. The development will integrate LNG import, storage and regasification infrastructure to support baseload electricity generation. Construction is scheduled to commence in 2027, with commercial operations targeted for 2030.
The consortium was selected by the Nghe An provincial government. SK Innovation is expected to contribute LNG value chain expertise, while PV Power and NASU will provide local development and operational capabilities. The LNG terminal may be expanded in future to serve as a regional hub supplying gas to additional power plants, in line with Vietnam’s national energy development strategy.