SK Innovation breaks ground for LNG power project in Vietnam

The event took place in the Tan Mai area of Quynh Lap District and was attended by approximately 300 guests, including Choo Hyeong-Wook, President and CEO of SK Innovation, senior officials from Vietnam’s central and local governments, and key representatives from the consortium partners.

Notable attendees included Le Tien Chau, Deputy Prime Minister of Vietnam; Doan Minh Huan, Director of the Ho Chi Minh National Academy of Politics; Nguyen Khac Than, Secretary of the Party Committee of Nghe An Province; and Vo Trong Hai, Chairman of the People’s Committee of Nghe An Province. Representatives from the consortium included Hoang Van Quang, Chairman of PV Power; Le Nhu Linh, President & CEO of PV Power; Thai Huong, Chairwoman of TH Group; and Ngo Van Tu, President of NASU.

The Quynh Lap LNG project is a large scale energy infrastructure project that will develop a 1.5 GW LNG combined-cycle power plant and LNG terminal in Nghe An Province, approximately 220 km south of Hanoi. With a total investment of approximately US$2.3 billion, the project is targeted to begin commercial operations by December 2030.

Beyond electricity generation, the project represents a key milestone in realiisng SK Group’s specialised energy-industry cluster (SEIC) model proposed to the Vietnamese government. The initiative aims to create an advanced industrial ecosystem by supplying stable power to nearby high-tech industrial complexes while supporting the development of AI data centres and related infrastructure through a Korea-style AI full-stack value chain.

SK Group Chairman, Chey Tae-won, and other senior executives have actively engaged with Vietnam’s top leadership, including the General Secretary of the Communist Party and the Prime Minister, to advance long-term co-operation and promote the SEIC vision. SK Group has also supported Vietnam’s National Innovation Center (NIC) as part of broader efforts to foster the country’s high-tech industrial capabilities and strengthen bilateral partnership.

Choo Hyeong-wook, President & CEO of SK Innovation, stated: “This ground breaking marks a historic first step toward the successful completion of the Quynh Lap Project, while also laying the foundation for strengthening Vietnam’s power infrastructure and fostering an advanced industrial ecosystem. We will continue working closely with our partners, including PV Power and NASU, to ensure the project achieves its goal of commencing commercial operations in 2030 and serves as a key pillar of Vietnam’s energy security.”

Once completed, the project is expected to enhance power supply stability through the national grid while serving as a catalyst for industrial development in the region. Building on the Quynh Lap project, SK Innovation aims to strengthen its position as a future energy solutions provider in Vietnam and expand its global power business portfolio by integrating LNG, energy storage systems (ESS), renewable energy, and small modular reactor (SMR) technologies in collaboration with local partners and government stakeholders.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/20052026/sk-innovation-breaks-ground-lng-power-project-in-vietnam/