South Korean media: SK selected as operator of Vietnam LNG power project, with investment scale reaching 3.3 trillion won
SK Innovation said on the 19th that a consortium consisting of the company, PV Power, a power company under Vietnam's state-owned petroleum and gas group (PVN), and local company NASU has been officially selected as the developer of the "Kuilu Liquefied Natural Gas (LNG) Power Project" in Nghe An province, Vietnam.
The Kuilu LNG project is a large-scale energy infrastructure project, which plans to build a 1,500-megawatt (MW) combined cycle gas turbine power plant, an LNG receiving terminal with a capacity of 250,000 cubic meters, and supporting facilities such as a dedicated port in the Kuilu area of Nghe An province, about 220 kilometers south of Hanoi. The total investment of the project reaches 2.3 billion US dollars (approximately 3.3 trillion Korean won), and it is planned to start construction in 2027 and be completed and put into operation by 2030.
This bid win is seen as a core milestone in SK Group's "Energy-Industrial Cluster (SEIC) Strategy." The core of the SEIC strategy lies in providing stable power supply through LNG power plants, leveraging SK Group's industrial advantages in artificial intelligence (AI) and semiconductors, and building an industrial cluster around the power plant to drive local economic growth and enhance industrial competitiveness.
SK Group plans to use this project to help Vietnam alleviate its electricity shortage, promote the upgrading of its industrial structure toward high-end and advanced sectors, and thus build a long-term and stable business presence in Vietnam. During his visit to Vietnam last February, SK Group Chairman Choi Tae-yong proposed this idea to Vietnamese Communist Party General Secretary Su Lin; during Su Lin's visit to South Korea in August of the same year, both sides further discussed the cooperation content and confirmed the support position of the Vietnamese government.
A relevant official from SK Innovation stated, "This selection strongly proves that SK's unique LNG value chain competitiveness has been fully recognized in the international market." The official also emphasized that the company will maintain close collaboration with the Nghe An provincial government, aiming to alleviate Vietnam's electricity shortage while promoting regional economic development, and deliver a satisfactory "win-win" result.
Source: JoongAng Ilbo
Original: toutiao.com/article/1857632597082188/
Statement: This article represents the views of the author himself.