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Tuesday, July 23, 2024

Binh Thuan greenlights LNG terminal project

The Saigon Times

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HCMC – The provincial government of Binh Thuan has given the go-ahead for a liquefied natural gas (LNG) terminal project worth a whopping US$1.34 billion.

The Son My LNG Terminal project in Son My Commune, Ham Tan District is a joint venture between Vietnam’s PetroVietnam Gas Joint Stock Corporation and U.S. firm AES Corporation, according to Binh Thuan’s Chairman Doan Anh Dung during a recent session discussing the province’s socio-economic performance.

Binh Thuan is also gearing up for the development of two more gas-fired power plants, Son My 1 and Son My 2, with a combined capacity of 4,500 megawatts. With these new power plants, scheduled to be operational by 2028, the province will firmly establish itself as a key player in the country’s energy landscape.

The primary objective of the LNG terminal is to provide a stable supply of LNG to fuel the Son My 1 and Son My 2 gas-fired power plants, which also will be situated in Son My Commune.

In its initial phase, the terminal will have the capacity to handle 3.6 million tons of LNG per year. As it progresses into the second phase, the capacity will increase to six million tons annually, solidifying its status as Vietnam’s largest LNG terminal project to date.

The province already boasts a total of 48 power plants, including hydroelectric, coal-fired, wind, and solar plants, generating a commercial power capacity of 6,794 megawatts.

The addition of the LNG gas-fired power plants is expected to boost the power sector and stimulate socio-economic growth in the local area and the wider region.

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