Quang Tri Province and T&T Group cooperate in energy conversion

Accordingly, the People's Committee of Quang Tri province, T&T Group and SK E&S (under SK Group) agreed to enhance information exchange and cooperation on investment, trade, energy conversion and green growth in Quang Tri province in many fields.

The parties will cooperate to promote the conversion of the Quang Tri thermal power project from using coal fuel to using more environmentally friendly LNG fuel; cooperate to develop low carbon emission reduction projects, including green hydrogen production projects; cooperate to implement projects related to carbon credits; cooperate to research to establish a central LNG warehouse (LNG Hub) and promote investment research or support Quang Tri province to call for investment in other potential and sustainable development fields in Quang Tri province.

Speaking at the signing ceremony, Mr. Vo Van Hung - Chairman of Quang Tri Provincial People's Committee said that Quang Tri province has agreed in principle to let the consortium of T&T and SK E&S research, survey and prepare documents to convert the Quang Tri thermal power project using coal to using more environmentally friendly fuel, at the same time determining the objectives, scale and investment capital; project implementation schedule...

This is one of the important contents for the parties to cooperate in development, promote the competent authority to approve the project's technology conversion from coal fuel to using LNG fuel; propose to update the LNG project in the Plan to implement the Power Plan VIII to submit to the competent authority for consideration and approval as a basis for implementing the next steps.

The leaders of the People's Committee of Quang Tri province committed to creating favorable conditions for the consortium of T&T Group and SK E&S in the process of researching, surveying, and preparing investment proposal documents for projects in the above-mentioned fields in accordance with the provisions of Vietnamese law.

According to Ms. Nguyen Thi Thanh Binh - Deputy General Director of T&T Group, with the existing synchronous infrastructure, high-quality human resources, prestige, capacity and strong potential of T&T Group, combined with the experience, technology and management of SK E&S - the leading energy company in Korea today, this cooperation will actively contribute to the energy transition and green growth process in Quang Tri province; towards the goal of striving to make Quang Tri an energy center of the Central region and the whole country by 2030 according to the development plan and goals set by Quang Tri province.

Previously, within the framework of the Vietnam - Korea Business Forum held in Hanoi in June 2023, T&T Energy (a member of T&T Group) and SK E&S also signed a memorandum of understanding on cooperation in the field of LNG power. T&T Energy and SK E&S will cooperate to develop an LNG terminal and gas power plant in accordance with Vietnam's development orientation and legal regulations. According to the agreement, SK E&S will be responsible for finding financial resources to support project implementation.

Quang Tri provincial leaders work with the consortium of investors T&T Group, Hanwha, KOGAS, KOSPO on accelerating the progress of the Hai Lang LNG project, phase 1 - 1,500 MW

Also within the framework of the trade promotion program in Korea of Quang Tri province, on April 23, Chairman of Quang Tri Provincial People's Committee Vo Van Hung worked with the joint venture T&T Group, Hanwha HEC Energy Group, Korea Gas Corporation KOGAS, South Korea Electric Power Company KOSPO on accelerating the progress of the Hai Lang LNG project, phase 1 - 1,500 MW.

Accordingly, the Hai Lang LNG power project - phase 1 is the driving force project of Quang Tri province and a national key project to stabilize energy security. Therefore, the leaders of Quang Tri province requested the joint venture investor to promptly handle the project's work, speed up the completion of documents and legal procedures for project implementation. The T&T Group - Hanwha - KOGAS - KOSPO joint venture is committed to implementing the project on schedule and putting the first unit into commercial operation in the second quarter of 2029, in line with the progress in the implementation plan of the Power Plan VIII approved by the Prime Minister.

Investors also requested the People's Committee of Quang Tri province to pay attention to supporting the site clearance work; recommend the Government, the Ministry of Industry and Trade, and EVN to approve the appropriate electricity output consumption ratio of the project (QC 85%-90%) to ensure the feasibility of capital arrangement; promptly approve the connection plan and speed up the completion of power lines and transformer stations, ensuring compliance with the COD schedule of the project and many other important contents...

SK E&S is the energy company of SK Group, the second largest private conglomerate in Korea. SK Group currently owns an ecosystem of 304 subsidiaries and affiliates operating in various fields such as chemicals, semiconductors, telecommunications and biotechnology. SK E&S is the first private company in Korea to build a complete LNG value chain and enter the next-generation energy business in the hydrogen industry, and establish a green portfolio including renewable energy, energy solutions and eco-friendly LNG. SK E&S was also the first private company in Korea to directly import LNG in 2006.

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