Situated within the Thai Binh Economic Zone, the liquefied natural gas (LNG) project boasts a designed capacity of 1500MW. Spearheaded by a consortium comprising Tokyo Gas, Kyuden, and Truong Thanh Vietnam Group, the project secures nearly $2 billion in investment.
Officially announced on January 26, construction is slated to kick off in the third quarter of 2025, with operations slated to commence by 2030. The project prioritizes advanced, eco-friendly technology, ensuring minimal emissions of sulphur dioxide.
Upon completion, the project is projected to generate approximately 10 billion kWh per year for the national grid, bolstering electricity supply to the northern region and fortifying national energy security.
By harnessing abundant natural gas resources from beneath the sea, the project heralds a sustainable energy source. LNG, emitting roughly 45% less carbon than coal and 30% less than oil, emerges as a pivotal environmental-friendly alternative.
Beyond economic restructuring and revenue augmentation, the project is poised to tackle employment challenges and catalyze the industrialization and modernization of Thai Binh province. It stands as a linchpin in national energy security efforts and aligns with politburo resolutions to promote LNG-based power, fostering an economic sphere with diminished net emissions, striving for zero carbon.
Thai Binh LNG epitomizes the fruitful outcomes of the Vietnam-Japan economic forum and Prime Minister Pham Minh Chinh’s diplomatic visit to Japan in November. It underscores the robust collaboration between the two nations.
Boasting a formidable consortium of investors, Thai Binh LNG is anchored by Tokyo Gas, a stalwart in Japan’s gas sector since 1885. Tokyo Gas serves over 11 million customers domestically and has a significant global LNG presence, sharing its expertise through participation in numerous overseas projects.
