South Korea’s SK Innovation, Vietnam’s state-owned PetroVietnam Power (PV Power) and local partner NASU have commenced construction of the Quynh Lap LNG project in Nghe An Province, Vietnam. The USD2.3 billion development includes a liquefied natural gas combined-cycle power plant and associated LNG import infrastructure, with commercial operations targeted by December 2030.
The project comprises a 1.5 GW LNG combined-cycle power plant and an LNG terminal located approximately 220 km south of Hanoi. The development is intended to support stable electricity supply and strengthen energy infrastructure in the region. In addition to power generation facilities, the project is linked to plans for a broader industrial ecosystem model intended to support high-technology industries, including AI data centres and related infrastructure development.
The Quynh Lap project forms part of Vietnam’s wider strategy to expand LNG capacity under the country’s Power Development Plan VIII (PDP8). Vietnam currently has limited LNG generation and import infrastructure but aims to significantly expand its LNG sector by 2030 to strengthen energy security and support growing electricity demand. The development is also expected to contribute to industrial growth in Nghe An Province and improve long-term power supply reliability within the national grid.