Tokyo Gas has announced the establishment of the Thai Binh LNG Power Joint Stock Company (TBLP), for the development of LNG to power project in Thai Binh Province, Vietnam together with Truong Thanh Viet Nam Group (TTVN), a company in Vietnam, and Kyuden International Corporation, a global IPP in Japan.

TBLP is established for the project development, which includes initially conducting feasibility study for the LNG to power project in Thai Thuy District, Thai Binh Province, Vietnam, which includes an offshore LNG receiving terminal and a 1.5GW natural gas-fired power plant. The scope of the project ranges from development, construction and operation of the power plant and LNG receiving terminal, LNG procurement to selling electricity to Vietnam Electricity. TBLP will assess the economic and technical feasibility, select EPC contractor, develop LNG procurement strategy during feasibility study phase and aim to start the commercial operation in 2029.

This is the Tokyo Gas Group’s second LNG to power project in Vietnam, following the onshore LNG receiving terminal and natural gas-fired power plant project in Quang Ninh Province.

The project is expected to begin construction in the third quarter of 2025 and become commercially operational by 2030.