Hai Lang LNG-to-power project phase 1

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The project involves the construction of the 1.5GW Hai Lang LNG-to-power project phase 1 in Quang Tri province of Vietnam. The asset covers more than 120ha in Southeast Quang Tri economic zone and its first phase consists of: 1.5GW gas-fired power plant, LNG terminal with capacity of 1.5 million tonnes of LNG per year and LNG tankers (170,000-226,000m). Once completed, the plant will generate up to 8.25 billion kWh of electricity per year to make up for the immediate shortage of capacity in the power grid. Korea Gas-led consortium was the only bidder on the tender launched by the Quang Tri Provincial People's Committee (PPC) in September 2021. The consortium comprises: T&T Group (40%), Hanwha Energy (20%), Korea Gas (Kogas) with 20% and Korea Southern Power (Kospo) with 20%. Phase 1's total cost is around VND53.67 trillion ($2.36 billion) with a debt/equity ratio of 75:25. The consortium contributed VND13.42 trillion ()$590 million) in equity. The groundbreaking ceremony for the construction start was on 15 January, 2022 and the sponsors target the power plant to commence operations by 2026-2027. Realfin https://vir.com.vn/23-billion-lng-hai-lang-approved-in-quang-tri-88336.html IJGlobal: T&T begins work on 1.5GW Vietnam LNG-to-power https://newsfounded.com/vietnameng/tt-group-and-korean-partner-have-started-a-2-3-billion-usd-gas-power-project/