The People’s Committee of Bac Lieu Province on Tuesday granted an investment certificate to Singapore’s Delta Offshore Energy Pte Ltd Co to develop a liquefied natural gas (LNG)-fired thermal power plant in the province.
The Bac Lieu LNG-fired thermal power plant, expected to cost about US$4 billion, will cover 40ha in Vinh Hau A Commune, Hoa Binh District. It is the biggest foreign-invested project in the Cuu Long (Mekong) Delta region thus far, online newspaper sggp.org.vn reported.
The committee chairman Duong Thanh Trung described the plant as one of the province’s key projects, which played a role in transforming the province's economic structure.
The project will create thousands of local jobs and contribute thousands of billions of dong to the local budget once it comes into operation, Trung said.
With a designed production capacity of 3,200 MW, the plant comprises four gas turbine units with a capacity of 750MW each and one unit with a capacity of 200MW.
According to the committee, four gar turbines of the plant are expected to be completed at the end of 2023 while the remaining one is slated for completion in late 2027.
According to experts, the development of LNG is a trend to diversify fuel sources, contributing to the country’s energy security.
In the development plan for Viet Nam’s gas industry, the demand for LNG will increase to about five million tonnes by 2025, about 10 million tonnes by 2030 and 15 million tonnes by 2035.
In order to accomplish this goal, Viet Nam has developed LNG import warehouses and ports. It has also built and issued a legal framework for the development of Viet Nam’s LNG industry, and set up priority projects based on LNG demand and investment promotion.