Hai Lang LNG Terminal

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Hai Lang LNG Terminal is a LNG import terminal under construction in Vietnam.

Location

The terminal is proposed to be collocated with the Hai Lang power station in Hải Lăng District, Quảng Trị, Vietnam.

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Project details

• Operator:
• Owner: T&T Group (40%); Hanwha (20%); Korea Southern Power (KOSPO)(20%); Korea Gas Corporation (KOGAS)(20%)
• Parent company: T&T Group (40%); Hanwha (20%); Korea Southern Power (KOSPO)(20%); Korea Gas Corporation (KOGAS)(20%)
• Location: Hải Lăng District, Quảng Trị, Vietnam
• Coordinates: 16.9944, 107.1154 (approximate)
• Capacity: 1.5 mtpa
• Status: Construction
• Type: Import
• Start year: 2026–2027
• Cost:
• Financing: T&T Group will invest 40% of the capital required to develop the project, while the remaining 60% will come from the three South Korean companies, each contributing 20% of the investment capital.
• FID Status:
• Associated infrastructure: Hai Lang power station

Background

The 1.5GW phase one Hai Lang LNG power plant is being developed as part of the country’s Revised Power Master Plan VII covering a vision through 2030, which was approved by the Vietnamese government in February 2021.

The People’s Committee of the Quang Tri Province approved the first phase of the LNG to power project involving foreign investors in October 2021.

The associated power plant began construction in January 2022, and the LNG terminal is presumed to be under construction as well.

In January 2024, the Investor reported that the sponsors of the project were targeting 2029 for operation of the entire LNG-to-power complex including the power plant. The article states that despite construction beginning two years ago, little progress has been made.

In May 2024, Gas Outlook said that "the project has been mired in controversy amid concerns over its economic feasibility." An analysis by the South Korean group Solutions for our Climate (SFOC) found that, based on an internal economic feasibility study, Vietnam's state utility could pay US$1 billion per year from the gas plant Hai Lang power station. Vietnam could be locked into an overpriced stranded asset if the power project proceeds, according to SFOC's report.