Single Bidder Secures Contract for Significant LNG Venture in Khanh Hoa
The Ca Na LNG-to-Power project, a significant energy endeavour, is progressing in south-central Vietnam. Located in the Ca Na area of Khanh Hoa Province, the project covers a land area of approximately 28.06 hectares and a water surface area of 111.7 hectares.
The project includes the construction of an LNG import terminal, a 2,400-metre-long eastern breakwater, and supporting infrastructure for terminal operations. At its heart is a 1,500MW combined cycle gas turbine LNG power plant, a port with an annual capacity of 4.8 million tonnes of LNG, and a warehouse with a capacity of 4.8 million tonnes a year. Once completed, the project will supply electricity to southern cities and provinces.
As of July 2025, a consortium formed by Trungnam Group and Sideros River is the sole bidder for the project. This consortium submitted a bid with an electricity selling price of around VND3,294 (approximately $0.13) per kWh. The provincial Department of Industry and Trade has officially commenced the bidding process, and the investor selection is underway throughout 2025.
The project’s investment preparation phase is planned for 2026, with a final investment decision expected by the fourth quarter of 2026. The original target operation was earlier planned for 2025-2026, but current timelines suggest that actual construction and commissioning will occur after the investor decision phase is completed. Thus, commercial operation will likely begin after 2026.
The Ca Na LNG-to-Power project was added to the Power Development Plan VIII in April and was granted in-principle approval by the former Ninh Thuan People's Committee in the same month. However, the first phase of the project is at risk of missing its construction schedule, as the province has only completed the bidding procedures to look for investors so far. If the timeline stays on track, a final decision could be issued by the end of next year.
In a notable development, Ninh Thuan People's Committee is proposing to replace 4,600MW of nuclear power approved in the national Power Development Plan (PDP) VII with liquefied natural gas (LNG) in the updated PDP8. This shift towards cleaner energy sources is a positive step towards a more sustainable future for Vietnam.
[1] Nguyen, T. (2025). Ca Na LNG-to-Power project investor selection begins. Vietnam Investment Review. Retrieved from https://www.vietnaminvestmentreview.vn/news/ca-na-lng-to-power-project-investor-selection-begins-97371.html [4] Trung Nam Group. (n.d.). Ca Na LNG-to-Power Project. Retrieved from https://trungnam.vn/ca-na-lng-to-power-project/ [5] Ninh Thuan People's Committee. (2025). Ca Na LNG-to-Power Project. Retrieved from http://ninhthuan.gov.vn/ca-na-lng-to-power-project/
The Ca Na LNG-to-Power project, a significant energy endeavour, is not only focused on the construction of power plants and an LNG terminal, but also involves the finance sector, as a consortium submitted a bid with an electricity selling price of VND3,294 per kWh. Additionally, the shift towards cleaner energy sources like LNG, as proposed by Ninh Thuan People's Committee, is a strategic business decision that aligns with global efforts to promote sustainable energy in the industry.
