GS Energy to build 3.5 GW LNG-fired plant in Vietnam

GS Energy Corp., the energy unit of South Korean conglomerate GS Group, will build and operate a power plant powered by liquefied natural gas in Vietnam.

GS Energy said it will build a 3 GW LNG-fired power plant in southern Vietnam in a deal estimated at $3 billion. The company said it will sign a power purchase agreement with the state-run Vietnam Electricity Group to begin commercial production in 2027.

In 2019, GS Energy signed an initial agreement with Vietnamese asset management firm VinaCapital Investment to build the LNG power plant in the Southeastern Asian nation to meet its growing power demand.