GLNG: Work begins on Hai Lang LNG-to-power project in Vietnam

Construction has begun on the first phase of the Hai Lang LNG-to-power project in Vietnam, according to a January 15 government announcement.
The project is located in Quang Tri Province. It will have a power generation capacity of 1.5 GW and will run on regasified LNG that will be imported via a receiving terminal with a capacity of 1.5mn tonnes per year (tpy). 
The project developers are Vietnam's T&T Group and South Korea's Korea Southern Power (Kospo), Hanwha Energy and Korea Gas (Kogas). T&T will contribute 40% of the investment capital required for the project while Hanwha, Kospo and Kogas will contribute 60% between them. Hai Lang is estimated to cost VND54bn ($2.4bn)
The Vietnamese government approved construction of the first phase of Hai Lang in October, and the project is anticipated to be ready by 2026-27. It is one of several LNG developments in the country, though none are yet operational. Vietnam is expected to begin importing LNG this year as it seeks to replace coal-fired power generation with cleaner-burning natural gas. The country’s demand for electricity is forecast to rise 10% per year in the coming years, while its LNG imports are projected to rise to 10mn tonnes by 2030 and 15mn tonnes by 2035.