New Energy

GS Energy will build and operate a LNG combined thermal power plant in Long An

Seetao 2021-03-26 11:02
  • GS Energy plans to start its energy business in Southeast Asia with the establishment of a LNG joint thermal power plant
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GS Energy announced on March 22, 2021 that the company has been selected as the company to construct and operate a 3GW LNG combined thermal power plant in Long An, southern Vietnam. Vietnamese Prime Minister Nguyen Xuan Phuc and other senior Vietnamese government officials participated in the event held the day before and announced the operator of the project.

GS Group is currently the largest private power generation company in South Korea with a total capacity of 5.7GW. In November 2019, the group established a strategic partnership with Vietnam's largest asset management company Vina Capital to promote LNG power generation projects in Vietnam. GS Energy will invest 3.5 trillion won to build the Long An LNG power plant. The power generation capacity of the planned thermal power plant is equal to the total power generation capacity of the three nuclear power plants. GS Energy will build two 1.5GW liquefied natural gas power plants. These two projects will be completed in 2026 and 2027 respectively. GS Energy will operate for 25 years. The electricity produced by these factories will be sold to the Vietnam Electric Power Company.

GS Energy is planning to implement a "gas-to-electricity" project that includes the entire power generation process from LNG transportation, LNG storage, and gasification facilities. GS Group plans to use the Vietnam project as a bridgehead to start its energy business in Southeast Asia. Previously, it had participated in an onshore oil extraction project in the UAE in 2015, ensuring the largest crude oil output in a single project in the history of South Korean oil field development. As early as 2019, GS Energy successfully developed an exploration mine in the UAE. Editor/Ge Siyu