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SK-Led Consortium Breaks Ground on $2.3 Billion LNG Power Project in Vietnam

The venture aims to ease electricity shortfalls by pairing a 1.5-gigawatt plant with an LNG terminal to serve new AI data hubs.

Overview

  • A consortium of SK Innovation, PetroVietnam Power, and NASU began construction of the Quynh Lap LNG project in Nghe An province.
  • The $2.3 billion plan builds a 1.5-gigawatt combined-cycle gas plant, an LNG import terminal, and storage tanks near Quynh Lap, about 220 kilometers south of Hanoi.
  • The partners target commercial operations by December 2030, with electricity feeding into Vietnam’s national grid.
  • SK frames the site as the first step in its specialized energy‑industry cluster in Vietnam, designed to power nearby industrial parks and future AI data centers.
  • Senior Vietnamese officials joined company leaders at the ceremony, underscoring government backing for a project promoted as strengthening energy security and local industry.