Reportedly, Samsung C&T is flourishingly executing the Thi Vai Project. Notably, this is Vietnam’s first LNG terminal, whereby this project is going to be implemented on March 14 as per industry insiders. While the groundbreaking ceremony of this project has been conducted in June 2019. Remarkably, the terminal is anticipated for completion in the second half of this year respectively.
Consecutively, Samsung C&T acquired the Vietnamese LNG market. This is by winning an order in order to connect units 3-4 of the Nhon Trach Power Plant. Also, by doing this, the company also secured an advantageous position to take part in successive LNG projects in Vietnam. It indicates that Samsung C&T will accomplish the construction of the first high-efficiency gas-fired combined cycle power plant. This power plant is ordered by the Vietnamese government, and the very first LNG terminal is responsible to cater the fuel demand to it.
“By forging a strategic partnership with local EPC company PetroVietnam Technical Services Corporation (PTSC), we have solidified our position in the Vietnamese LNG terminal market,” said a Samsung C&T official. “We plan to secure execution capabilities and position ourselves as a leader in the global LNG terminal market based on our technological capabilities and local network accumulated during the Thi Vai Project.”
Furthermore, Samsung C&T also plans to initiate importing 1 million tons of LNG per year into Vietnam. Thereby, stretching its limits of LNG import volume to 3 million tons per year by 2030. Meanwhile, the company is also predicted to build more than 20 LNG power plants by 2030. This has come under the 8th National Power Development Plan.
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