Vietnamese asset management firm VinaCapital and South Korea’s GS Energy are planning to back a 3,000-megawatt LNG-to-power project in Long An, Vietnam, according to Reuters.
The partners will jointly invest up to $3 billion in the complex, which should enter operations at the end of 2025.
The United States is expected to be one “likely source” of LNG for the complex.
VinaCapital is one of Vietnam’s major investment management and real estate development firms, with a diversified portfolio of $3.3 billion in assets under management, according to the firm’s website.
GS Energy, an energy solutions company that invests in oil, gas and renewable energy, is currently participating in various exploration and production projects in the Middle East, North America and Southeast Asia.