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PetroVietnam receives funding for LNG-fuelled power units

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LNG Industry,

According to Reuters, PetroVietnam Power Corp. has signed an agreement with a consortium to arrange funds for the expansion of its gas-fired power complex in southern Vietnam.

The consortium consists of Citibank and ING Bank. According to Reuters, the funds will be used for the construction of 1500 MW total capacity Nhon Trach 3 and 4 plants in Dong Nai province. These plants will be powered by imported LNG.

Nhon Trach 1 and 2, meanwhile, have a total capacity of 1200 MW, and use locally produced natural gas.

Reuters reports that the plants will costs approximately US$1.4 billion, and are scheduled to commence commercial operations from 4Q22.

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