Vietnam awards $974 million LNG power plant contract to PowerChina and Lilama
Vietnam has awarded a $974 million contract to build a new 1,612 megawatt LNG power plant. The project supports energy security and net-zero goals by 2050.
Insights:
Vietnam’s state utility EVN announced on February 9, 2026, that it has awarded a $974 million contract to a consortium of Power Construction Corporation of China, Ltd and Lilama to build the Quang Trach II LNG-fired power plant. The project, located in Vietnam 
VN, will add 1,612 megawatts of capacity to the national grid, marking a significant step in the country's efforts to secure its energy future.
VN, will add 1,612 megawatts of capacity to the national grid, marking a significant step in the country's efforts to secure its energy future.The new facility will utilize turbines supplied by GE Vernova Inc. and is scheduled to be fully operational by 2030. According to the announcement, the development of the Quang Trach II LNG-fired power plant is intended to increase energy security, improve power-system reliability, and support the greenhouse-gas reduction commitments of the government. This move toward liquefied natural gas is seen as a pivotal step in diversifying the national energy sector.
