Vietnam to tweak rules to encourage LNG power plant development
Vietnam plans to adjust its rules on the government's guaranteed purchase of power from liquefied natural gas-fired plants as it seeks to revive interest from developers.
The Southeast Asian country targets having a fleet of LNG-fired power plants with combined capacity of 22.5 gigawatts by 2030, but little progress has been seen recently.
The Ministry of Industry and Trade is drafting a new decree that would raise the guaranteed offtake volume from LNG power plants to at least 75% from at least 65%, it said in a statement.
The new decree would also extend the guaranteed period to 15 years from 10 years, it added.
This will "establishing a legal framework to promote investment, construction and commissioning of plants using imported LNG," the ministry said.
Vietnam currently has only two operational LNG-fired power plants with combined capacity of 1.62 GW.
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