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November 29, 2021

Quang Ninh LNG Power Project, Vietnam

By Carmen

The Quang Ninh LNG Power Project is 1,500MW gas fired power project. It is planned in Quang Ninh, Vietnam. The project is currently in permitting stage. It will be developed in single phase. The project construction is likely to commence in 2025 and is expected to enter into commercial operation in September 2027.

Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Thermal 1,500 1,500 Permitting Quang Ninh, Vietnam Marubeni; PetroVietnam Power; Tokyo Gas

Description

The project is being developed by Marubeni, PetroVietnam Power and Tokyo Gas. These companies also have ownership stakes in the project.

It is a thermal power plant.

The project cost is expected to be around $2,000m.

Development Status

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The project construction is expected to commence from 2025. Subsequent to that it will enter into commercial operation by September 2027.

About Marubeni

Marubeni Corp (Marubeni) is an integrated trading and investment business that operates through its domestic and overseas subsidiaries. The company provides various products and commodities such as marine products, chemicals, energy, metals and minerals, machinery, textiles, forest products and general merchandise, and pulp and paper. It also offers finance, logistics, development and construction services. The company explores transports, stores and markets natural resources. Marubeni provides insurance and reinsurance, fund and Japan real estate investment trust management and property management services, and operates transportation infrastructure projects. It has operations across North America, Central and South America, Europe, Africa, Asia, and Oceania. Marubeni is headquartered in Tokyo, Japan

About PetroVietnam Power

PetroVietnam Power Corp (PV Power) is a utility company that generates and distributes electricity. The company produces electricity using crude oil, natural gas, hydro, coal, and gas sources. It also offers services that include management, construction, and operation of power plants, clean power CDM projects, electric power infrastructure; power generation and trading; consulting; and import and export services. PV Power also invests in power projects. The company owns and operates gas and coal-fired thermal, hydropower, and wind power projects in Vietnam. Its project portfolio includes CA MAU 1 Gas Thermal Power Plant; NHON TRACH 1 Gas Thermal Power Plant, Dakdrinh Hydropower Plant, Xekaman Hydropower Plant, and others. PV Power is headquartered in Ha Noi, Vietnam.

About Tokyo Gas

Tokyo Gas Co Ltd (Tokyo Gas) is a gas utility that produces, supplies and markets liquefied natural gas (LNG). The company produces, supplies and sells electricity. It has overseas upstream, midstream and downstream businesses. Tokyo Gas provides engineering solutions, gas appliances and gas installation work. The business of the company also includes construction, leasing and management of land and buildings, information processing service, shipping business, and credit/lease financial services. It offers products and services to customers in residential, commercial, public, medical and industrial sectors and to other gas companies. The company provides its services in the cities of Tokyo, Kanagawa, Saitama, Chiba, Ibaraki, Tochigi and Gunma. Tokyo Gas is headquartered in Minato-Ku, Tokyo, Japan.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.

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