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Vietnam switches on first LNG-fired power plants, plans 20 more by 2035
Early liquefied natural gas imports have come from Indonesia, Malaysia, Qatar and Russia, with growing interest in US suppliesSummarise
Jamille Tran
Published Sun, Dec 14, 2025 · 02:57 PM
Vietnam’s Prime Minister Pham Minh Chinh (with raised hand) visited the Nhon Trach 3 and 4 LNG-fired power plants on Dec 14. PHOTO: PETROVIETNAM
[HO CHI MINH CITY] Vietnam has inaugurated its first cluster of power plants fuelled by imported liquefied natural gas (LNG), marking a milestone in the country’s push to secure electricity supplies from a cleaner fossil fuel in one of Asia’s fastest-growing economies.
The Nhon Trach 3 and 4 LNG-fired plants were inaugurated on Sunday (Dec 14) in Dong Nai province, an industrial hub north-east of Ho Chi Minh City.
The US$1.4 billion project has a total capacity of 1.6 gigawatts (GW), with investment from PetroVietnam Power Corporation (PV Power), a subsidiary of the state-owned PetroVietnam, with a Lilama-Samsung C&T consortium serving as the contractor.
With its ground-breaking in 2022, it is Vietnam’s first LNG-fired power plant project to secure nearly US$1 billion in financing without government guarantees – a milestone closely watched by both local and international investors.
Earlier this year, PV Power also signed a 25-year agreement with its sister company, PetroVietnam Gas (PV Gas) to supply LNG to the two plants, marking the country’s first long-term LNG supply contract with a committed volume of 530 million cubic metres (cu m) per year for the first five years.
Both PV Power and PV Gas are listed on the Ho Chi Minh City Stock Exchange, with market capitalisations of 27 trillion dong (S$1.3 billion) and 148 trillion dong, respectively, at market close on Friday.
Kick-starting the sector
Vietnam sees LNG as a critical “bridging fuel” between coal and renewables with significantly less carbon and air pollutants. More importantly, for Vietnam’s grid, gas-fired plants can serve as a reliable base load and help stabilise the power system as wind and solar – inherently intermittent sources – expand rapidly.Under Vietnam’s revised Power Development Plan VIII (PDP8) approved in April, LNG-to-power capacity is targeted to reach 22.5 GW by 2030, from less than 1 GW today, accounting for roughly 10 per cent of the country’s power mix.
To kick-start the LNG sector, the government has rolled out a series of incentives. These include cutting preferential LNG import tariffs to 2 per cent from 5 per cent, and introducing an annual ceiling price for LNG power generation to provide a benchmark for power purchase agreement negotiations with state utility Vietnam Electricity (EVN).
Viet
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21 million tourists
the highest number ever
moderndiplomacy.eu
the highest number ever
Foreign Tourist Arrivals to Vietnam Hit Record High Despite Pollution and Floods
Vietnam is on track to welcome a record 21 million foreign tourists this year, underscoring a strong rebound from the COVID-19 pandemic despite ongoing environmental challenges.
moderndiplomacy.eu
Viet
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700 billion USD to support green growth until 2050?
That’s more than Germany’s 500 billion USD big gamble on green industrial revolution that turns out to be an industrial suicide.
vietnamnet.vn
That’s more than Germany’s 500 billion USD big gamble on green industrial revolution that turns out to be an industrial suicide.
Vietnam needs $700 billion for green growth: Capital market must awaken
Vietnam’s journey to net-zero emissions by 2050 requires a staggering $700 billion in funding - far beyond what banks alone can deliver.
vietnamnet.vn
Viet
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Press Release17 December 2025Siemens AGMunich
VinSpeed High-Speed Railway Investment and Development Joint Stock Company (a member of Vingroup) and Siemens Mobility have signed a Comprehensive Strategic Partnership and Framework Agreement, launching a broad cooperation for high-speed rail in Vietnam.
Siemens Mobility will serve as technology partner, responsible for the design, supply, and integration of modern Velaro Novo high-speed trains and key railway subsystems, including ETCS Level 2 signaling with automatic train operation (ATO), telecommunications, and electrification systems. Siemens Mobility is also exploring opportunities to deliver advanced maintenance services for highest system availability. Both parties are committed to close collaboration, laying the foundation for future implementation contracts and supporting the development of a modern, international-standard rail infrastructure in Vietnam.
Michael Peter, Chief Executive Officer of Siemens Mobility, commented: “We are proud that the global frontrunner VinSpeed has selected Siemens Mobility to deliver Vietnam’s first high-speed rail lines. This confidence in our turnkey expertise and technology underscores Siemens’ position as the partner of choice for ambitious mobility projects worldwide. Velaro Novo, our most advanced high-speed train platform, delivers up to 30% lower energy consumption, 10% higher passenger capacity, and proven reliability, tailored for Vietnam’s challenging terrain. Together, we are setting new standards for rail travel, driving innovation, and helping position Vietnam as a leader in high-speed mobility.”
Mr. Pham Thieu Hoa, Chief Executive Officer of VinSpeed, said: “The strategic cooperation with Siemens Mobility marks an important step in VinSpeed’s roadmap for developing modern transport infrastructure projects in Vietnam. The combination of VinSpeed’s project execution capabilities and deep understanding of the domestic market with Siemens Mobility’s global experience and advanced technology will create a strong foundation for delivering international-standard high-speed rail lines, contributing to socio-economic development and improving quality of life for the Vietnamese people.”
Project Overview
VinSpeed, in partnership with Siemens Mobility, is developing various high-speed rail lines across Vietnam. Specifically, two high-speed routes: the Ha Noi – Quang Ninh (Ha Long) line, covering 121 kilometers with four stations, and the Ben Thanh – Can Gio line, spanning 54 kilometers with two stations. All lines will be equipped with state-of-the-art rail technologies, including ETCS Level 2 signaling, electrification, communications systems, ensuring operational efficiency, safety, and sustainability.
Velaro Novo – Siemens Mobility’s Latest High-Speed Innovation
Velaro Novo is Siemens Mobility’s most advanced high-speed train platform, designed for a top speed of 350 km/h and at least 10% higher passenger capacity thanks to its wider carbody and optimized empty tube design. Highly energy efficient, it consumes about 30% less energy than previous models, reducing emissions and operating costs. Engineered for challenging conditions, Velaro Novo handles steep gradients and is well-suited to Vietnam’s diverse terrain. Equipped with ETCS Level 2 signaling and automatic train operation (ATO), it ensures enhanced safety, optimized energy use, and high operational availability for modern high-speed rail networks.
VinSpeed and Siemens Sign Comprehensive Cooperation Agreements for High-Speed Rail Development in Vietnam
- Siemens Mobility to design and deliver Velaro Novo high-speed trains, rail infrastructure, and services as a turnkey project for Vietnam’s transformative rail program
- Vietnam’s first high-speed lines will cut travel times and boost connectivity
VinSpeed High-Speed Railway Investment and Development Joint Stock Company (a member of Vingroup) and Siemens Mobility have signed a Comprehensive Strategic Partnership and Framework Agreement, launching a broad cooperation for high-speed rail in Vietnam.
Siemens Mobility will serve as technology partner, responsible for the design, supply, and integration of modern Velaro Novo high-speed trains and key railway subsystems, including ETCS Level 2 signaling with automatic train operation (ATO), telecommunications, and electrification systems. Siemens Mobility is also exploring opportunities to deliver advanced maintenance services for highest system availability. Both parties are committed to close collaboration, laying the foundation for future implementation contracts and supporting the development of a modern, international-standard rail infrastructure in Vietnam.
Michael Peter, Chief Executive Officer of Siemens Mobility, commented: “We are proud that the global frontrunner VinSpeed has selected Siemens Mobility to deliver Vietnam’s first high-speed rail lines. This confidence in our turnkey expertise and technology underscores Siemens’ position as the partner of choice for ambitious mobility projects worldwide. Velaro Novo, our most advanced high-speed train platform, delivers up to 30% lower energy consumption, 10% higher passenger capacity, and proven reliability, tailored for Vietnam’s challenging terrain. Together, we are setting new standards for rail travel, driving innovation, and helping position Vietnam as a leader in high-speed mobility.”
Mr. Pham Thieu Hoa, Chief Executive Officer of VinSpeed, said: “The strategic cooperation with Siemens Mobility marks an important step in VinSpeed’s roadmap for developing modern transport infrastructure projects in Vietnam. The combination of VinSpeed’s project execution capabilities and deep understanding of the domestic market with Siemens Mobility’s global experience and advanced technology will create a strong foundation for delivering international-standard high-speed rail lines, contributing to socio-economic development and improving quality of life for the Vietnamese people.”
Project Overview
VinSpeed, in partnership with Siemens Mobility, is developing various high-speed rail lines across Vietnam. Specifically, two high-speed routes: the Ha Noi – Quang Ninh (Ha Long) line, covering 121 kilometers with four stations, and the Ben Thanh – Can Gio line, spanning 54 kilometers with two stations. All lines will be equipped with state-of-the-art rail technologies, including ETCS Level 2 signaling, electrification, communications systems, ensuring operational efficiency, safety, and sustainability.
Velaro Novo – Siemens Mobility’s Latest High-Speed Innovation
Velaro Novo is Siemens Mobility’s most advanced high-speed train platform, designed for a top speed of 350 km/h and at least 10% higher passenger capacity thanks to its wider carbody and optimized empty tube design. Highly energy efficient, it consumes about 30% less energy than previous models, reducing emissions and operating costs. Engineered for challenging conditions, Velaro Novo handles steep gradients and is well-suited to Vietnam’s diverse terrain. Equipped with ETCS Level 2 signaling and automatic train operation (ATO), it ensures enhanced safety, optimized energy use, and high operational availability for modern high-speed rail networks.
Viet
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Vietnam islands building and enlargement will probably complete by yearend matching the level of China.
Will wait if the work continues next year.
www.defensenews.com
Will wait if the work continues next year.
Vietnam nears completion of militarized South China Sea outposts
Vietnam has revved up South China Sea land reclamation efforts this year, beginning construction on eight previously untouched Spratly Islands features.
www.defensenews.com
