Ministry of Industry and Trade proposed to guarantee 75% of LNG electricity production; VinEnergo proposed no less than 90%

The Ministry of Industry and Trade is currently drafting a Resolution to address difficulties in the national energy development, focusing on LNG power projects for the period 2026-2030. According to the draft, the minimum guaranteed power output for these projects is 75% for the first 10 years. However, VinEnergo, part of Vingroup, proposed a 90% guarantee for the same duration and extending the contract period to 25 years. The Ministry pointed out that VinEnergo’s proposal lacks basis and needs adjustments to balance interests among parties. On September 26, Vingroup launched the Hai Phong LNG Thermal Power Plant project, expected to complete by the end of 2030 with an investment of 178 trillion VND, providing about 9.6 billion kWh/year. This will be the largest power plant in Vietnam, playing a crucial role in the national grid and reducing reliance on traditional energy sources.