USD 2 billion Thai Binh LNG power plant to begin construction in 2025

The USD 2 billion Thai Binh LNG power plant project in northern Vietnam will begin construction in late 2025 after completing its feasibility study by mid-year. 

Led by Thai Binh LNG Power JSC, a joint venture of Japan’s Tokyo Gas, Kyuden International, and Vietnam’s Truong Thanh Vietnam Group, the plant aims to generate 10 billion kWh annually and contribute USD 162.57 million in taxes.

The project is currently progressing with site clearance and plans to finalize a power purchase agreement with Vietnam Electricity (EVN) in 2026. 

Inaugurated in January 2024 after receiving an investment license at the Vietnam-Japan Economic Forum in Tokyo, the plant is part of a government initiative to fast-track LNG power projects, with Prime Minister Pham Minh Chinh calling for earlier operational timelines to enhance energy supply by 2030.