US Millennium Energy Corporation is planning to build a liquefied natural gas (LNG) power plant and LNG terminal facility in the southern area of the Van Phong Economic Zone in Khanh Hoa province of Vietnam.
The 4,800 LNG-powered energy generation plants will be developed in two phases. Millennium Energy will be investing about US$4.7 billion for the entire project. Phase I of the power plant is expected to be commissioned in 2027-2020 and Phase 2 after 2030.
The 17 million square meters LNG terminal facility is about US$22.5 billion in investment. The project aims to supply LNG for the power plant and export gas to other Asian countries.
Millennium Energy proposes the project to be added to Vietnam's Draft National Power Development Plan for 2021-2030 and the national energy master plan for 2021-2030 with a vision to 2050.
