Chairman of the Board of Directors of PVN receives General Director of GS Energy.
At the working meeting, the Korean partner proposed to support PVN and the Vietnamese Government to use blue ammonia (green ammonia fuel) for gradually replacing coal fuel in power generation.
GS Energy is a member company of GS Group - one of the largest private energy companies in Korea operating in 3 main fields as Oil refinery; electricity; LNG trading, importing and distributing. GS Energy has experience of more than 20 years in importing and distributing LNG and owns 7 large LNG storehouses.
In Vietnam, GS Energy is promoting investment in developing LNG power plant in Long An.
Exchanging views with PVN leaders Mr. Kim Sung Won said that GS Energy and VinaCapital Investment are investors of Long An 1&2 LNG Combined Cycle Turbines with a total capacity of 3,000 MW (1,500 MW each) This project uses liquefied natural gas (LNG) fuel with a total capacity of 3,000 MW (including 2 combined cycle gas turbine plants with a capacity of 1,500 MW each).
According to Mr. Kim Sung Won: To achieve the emission reduction target, in Korea, GS Energy and Korea Electric Power Corporation (KEPCO) are cooperating in Blue Ammonia (green ammonia fuel) pilot project. If the project should be successful, the green ammonia will gradually replace coal in power generation. Therefore, GS Energy wishes to cooperate and support PVN and the Vietnamese Government in using green ammonia in the future.
At the meeting with GS Energy, PVN Chairman and General Director shared with the Korean partner the overview on operations and development strategy of PVN in the coming years.
In the development strategy of Vietnam's oil and gas industry, Besides the core targets, PVN should take interest and focus on developing renewable energy projects for ensuring the great goal of Vietnamese Government in implementing the commitment of net-zero by 2050.
According to the Power Development Planning VIII, in the period after 2030, coal power plants will be gradually transited to using ammonia fuel in order to reduce CO2 emissions, towards carbon neutrality in accordance with the commitment of Vietnamese Government at COP26.
The PVN leaders hope that GS Energy, PVN and its member units will actively exchange information, experience, as well as study cooperation opportunities between the two parties in this field. At the same time, PVN leaders affirm to create favorable conditions for GS Energy, PVN and its member units to effectively cooperate in coming time.