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Project Insights

Vietnam backs private LNG to beat power crunch

Vietnam is supporting US-backed LNG-to-power projects that are close to taking FID Vietnam is supporting US-backed LNG-to-power projects that are close to taking FID.
By Damon Evans 21 November 2019 Asia Pacific / LNG 0 34806
Nhon Trach cobined cycle power plant, Vietnam. (Siemens)

The key issue: The Vietnamese government is increasingly supporting LNG-to-power projects backed by private investors as the country faces a significant risk of chronic electricity shortages from next year.

Interfax analysis: LNG suppliers in the United States see a chance to tap into Vietnam’s emerging gas market as the Southeast Asian nation develops two LNG-to-power projects intended to tackle looming electricity shortages.

Vietnam is projected to start suffering blackouts as early as next year. The situation is expected to get progressively worse until around 2022-2023 because...