The event featured the participation of Le Van Thanh, Deputy Prime Minister, Nguyen Xuan Ky, secretary of the Quang Ninh provincial Party Committee and chairman of the provincial People's Council alongside Nguyen Tuong Van, deputy secretary of the provincial Party Committee and chairman of the provincial People's Committee among others.

Upon addressing the launching ceremony, Ho Cong Ky, chairman of the Board of Directors of the PetroVietnam Power Corporation (PV Power), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), thanked State agencies and those in Quang Ninh province for creating the best possible conditions for 4 investors of the project- PV Power, Colavi, Tokyo Gas and Marubeni to carry out the project.

He also affirmed the investors' determination and their best efforts to bring the project into commercial power generation on schedule.

In his speech, Nguyen Tuong Van, chairman of the Quang Ninh provincial People's Committee said in addition to its strengths in minerals and tourism, in the near future, Quang Ninh will focus on developing green, clean and eco- friendly power sources, with the best commitment to supporting the project toward gradually turning Quang Ninh province into one of the major power centers of the nation.

On behalf of the provincial leaders, Nguyen Tuong Van handed over a decision on the approval of project investors announced by the Department of Planning and Investment of Quang Ninh province, to representatives of the four investors.

The Quang Ninh liquefied natural gas (LNG) power project was built in Cam Thinh ward, Cam Pha city with a total estimated investment of VND47,480 billion. This will be the first imported LNG power plant project in the northern region with a capacity of 1,500 MW.

Once completed and put into commercial operation in the third quarter of 2027, the project is set to provide a large amount of electricity up to 9 billion kWh/year to the national power grid as a contribution to ensuring energy security and reducing greenhouse gas emissions.

With the goal of cooperation for LNG projects in Quang Ninh, in late 2020, PV Power, COLAVI, Tokyo Gas and Marubeni jointly signed a memorandum of understanding (MoU) on research and development of gas power projects, including the Quang Ninh LNG gas power plant project.

PV Power is currently the second largest power producer in Vietnam, taking the lead in the field of gas power. It has 7 plants with a total capacity of 4,208MW, and charter capital of more than VND23,000 billion. Its annual contribution to the national electricity grid is around 21 billion kWh.

In pursuit of the approved development strategy, PV Power is currently focusing on developing gas power sources using LNG.

Before becoming involved in the Quang Ninh LNG gas power plant project, PV Power has been investing in Nhon Trach 3 and Nhon Trach 4 power plant project, which is also the first LNG-fired power project of Vietnam. The project is expected to be completed in the second quarter of 2024.