Thai Binh FSRU

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Thai Binh FSRU is a floating liquefied natural gas (LNG) import terminal proposed in Vietnam.

Location

The terminal is proposed to be located in Thai Binh province, Vietnam.

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Project details

• Operator: Thai Binh LNG Power Joint Stock Company
• Owner: Thai Binh LNG Power Joint Stock Company
• Parent company: Tokyo Gas, Kyuden, Truong Thanh Viet Nam
• Vessel:
• Vessel operator:
• Vessel owner:
• Vessel parent company:
• Location: Thai Binh province, Vietnam
• Coordinates: 20.45638, 106.60887 (approximate)
• Capacity: 1 mtpa
  • Formerly 0.2-0.5 million tonnes per annum (mtpa)
• Status: Proposed
• Type: Import
• Start year: 2029
  • Formerly 2026-2030
• Financing:
• FID status:
• Cost: US$1.99 billion (including power plant)
  • Formerly US$5.864 billion (including power plant)
• Associated infrastructure: Thai Binh Combined Cycle power station

Background

2020 Proposal

The leaders of Vietnam's Ministry of Industry and Trade had a meeting with the delegation of Thai Binh province regarding a proposal to build the Thai Binh Combined Cycle power station, a 4500-MW LNG-fired power plant that would import LNG via a floating regasification and storage unit (FSRU). The total project cost, including the power plant, is estimated to be US$5.864 billion.

2023 Proposal

In December 2023, a new proposal for a Thai Binh FSRU was put forth by Japan’s Tokyo Gas, Kyuden, and Vietnam’s Truong Thanh Viet Nam, backed by an investment license from Vietnam's government. The sponsors plan to build a US$1.99 billion LNG-to-power project in Thai Binh, including an FSRU and a power plant with a capacity of 1.5 GW.

In January 2024, the sponsors formed a special purpose company Thai Binh LNG Power Joint Stock Company (TBLP), and they announced that it would conduct a feasibility study for the project. The project will aim to begin operations by 2029.