Prime Minister Pham Minh Chinh attended the inauguration ceremony of the Nhon Trach 3 and 4 LNG power plants.

Prime Minister Pham Minh Chinh attends the inauguration ceremony of the Nhon Trach 3 and 4 LNG power plants. Photo: Van Dung

On December 14th, at the Ong Keo Industrial Park in Dai Phuoc commune, Dong Nai province, Prime Minister Pham Minh Chinh, along with leaders of the Party, State, ministries, and Dong Nai province, attended the inauguration ceremony of the Nhon Trach 3 and 4 LNG power plants and the plaque unveiling ceremony commemorating the 14th National Congress of the Communist Party of Vietnam.

Speaking at the inauguration ceremony, Prime Minister Pham Minh Chinh stated that this is a model project, a prime example; demonstrating the spirit, courage, intelligence, and stature of Vietnam.

kan_9258(1).jpg — The Prime Minister, along with Party and State leaders, unveiled a plaque commemorating the 14th National Congress of the Communist Party of Vietnam. Photo: Van Dung

The Prime Minister emphasized that the inauguration of the Nhon Trach 3 and 4 LNG power plants is a particularly important piece contributing to ensuring energy security – a crucial strategic foundation for rapid and sustainable development, meeting the growth requirements in the new era.

Despite numerous difficulties and obstacles, the project's results are the product of the collective efforts and pioneering spirit of state-owned corporations, achieving six "firsts": lowest investment cost; largest scale; most modern technology; highest capacity; shortest EPC contract negotiation time; and most competitive commercial electricity price.

kan_9403(1).jpg — The Prime Minister visited the factory and spoke with the workers. Photo: Van Dung

In particular, Prime Minister Pham Minh Chinh noted that there were "unprecedented" challenges, such as the project's commencement during the Covid-19 pandemic. This project also serves as a model for self-financing from international financial institutions without a government guarantee – sending a message to foreign investors that government guarantees are not required.

Furthermore, the project was implemented in a context where there was no mechanism for pricing LNG in electricity costs, no regulations on long-term electricity output off-take, and many differing opinions. Nevertheless, the project was carried out, ensuring a balance of interests and shared risks.

According to the Prime Minister, this is a model project, exemplary in all aspects, overcoming all difficulties and challenges, ensuring timely completion, safety, and adequate resettlement for the people. The project demonstrates Petrovietnam's maturity and growth.

img_0027(1).jpg — The Prime Minister speaks at the inauguration ceremony. Photo: Van Dung

To implement the project effectively, Prime Minister Pham Minh Chinh requested continued optimization in operational methods, cost reduction, price reduction, and increased competitiveness so that people and businesses can benefit. Based on the project's model, it is necessary to surpass oneself, dare to innovate, and improve productivity and quality to continue conquering new records.

Prime Minister Pham Minh Chinh stated that the success of the Nhon Trach 3 and 4 power plant projects serves as a model, a driving force, and a source of confidence, creating a foundation for the continued implementation of key national energy infrastructure projects in the future.

According to Petrovietnam Chairman Le Manh Hung, the Nhon Trach 3 and 4 LNG power plant project is Vietnam's first key LNG-based power project using new generation turbines with an efficiency of over 62%.

img_8402(1).jpg — Chairman of the Board of Directors of Petrovietnam, Le Manh Hung. Photo: Van Dung

Bringing the project into operation increases the total number of power plants invested in and operated by Petrovietnam to 12, with a total installed capacity of 8,249 MW, accounting for 9.3% of the country's total capacity and exceeding 10% of the national electricity production.

The Chairman of Petrovietnam affirmed that the LNG-fueled power plant serves as a foundation for Petrovietnam to continue researching and developing LNG power centers nationwide to ensure energy security, promote the country's economic development, and contribute to achieving the goal of net zero emissions by 2050.

img_8424(1).jpg — The Prime Minister, along with leaders of the Party, State, ministries, and Dong Nai province, pressed the button to inaugurate the factory. Photo: Van Dung

The Nhon Trach 3 and Nhon Trach 4 power plants are invested in by the Vietnam Oil and Gas Power Corporation, a subsidiary of the Vietnam National Energy and Industry Group (Petrovietnam). The project has a total investment of approximately US$1.4 billion, with the Lilama – Samsung C&T consortium as the EPC general contractor.

Cum nmd Nhon Trach (1) — Overview of the Nhon Trach 3 and 4 power plant project.

With a total capacity of 1,624 MW, the Nhon Trach 3 and 4 power plants are expected to supply more than 9 billion kWh/year when operating stably, supplementing the large-scale base power supply for the system, especially in the southern region. The plant complex also plays a role in providing flexible power sources, supporting system dispatch and balancing in the context of the increasing proportion of renewable energy.

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