The German energy giant made the statement at a meeting with Vietnam Electricity's (EVN) deputy CEO Nguyen Tai Anh in Hanoi last Thursday while reviewing global gas-to-power equipment supply conditions.

The two sides met to discuss cooperation in gas-to-power technologies, including high-efficiency turbines and LNG power development, EVN reported in a release posted on its website.

The dialogue focused on global technology trends, updates in the gas-to-power equipment market, and Vietnam’s demand for gas-to-power sources in the coming time.

Siemens Energy has made its presence in 90 countries. Photo courtesy of the company.

Anh said Vietnam needs to expand flexible power generation capacity under the adjusted Power Development Plan VIII (adjusted PDP VIII), noting that the country’s planned halt to new coal-fired projects after 2030 increases the role of gas-to-power, particularly LNG power, in ensuring system balance and operational flexibility.

Siemens Energy representatives presented next-generation, high-efficiency gas turbine technologies, global LNG-to-power trends, and lessons learned from LNG-to-power projects in other markets.

They said they hoped to continue technical exchanges, share technology trends, and support EVN in assessing feasible solutions for gas-to-power development.

Anh welcomed the inputs and asked both sides to continue sharing updates on technology, operating experience, and suitable development models for gas-fired power plants in Vietnam.

Under the adjusted PDP VIII, approved by the government on April 15, 2025, maximum use of domestic gas for power generation is prioritized. In case of a decrease in domestic gas output, it will be supplemented with imported natural gas or LNG.

Projects using LNG and LNG import infrastructure shall be synchronously developed with appropriate scale and modern technology.

Domestic gas-fired thermal power by 2030 will hit 10,861 - 14,930 MW, or 5.9 - 6.3%; while LNG thermal power will be 22,524 MW, or 9.5 - 12.3%.

Nhon Trach 3 and 4, Vietnam’s first LNG-fired power plants, are expected to begin commercial operations at the end of 2025, according to authorities in the southern province of Dong Nai.

Located in 90 countries, Siemens Energy operates across the whole energy landscape, from conventional to renewable power, from grid technology to storage to electrifying complex industrial processes.

Investors of a $2.56 billion LNG-fired power plant in Hung Yen province, northern Vietnam have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.

The proposal was submitted as part of feedback on the Industry and Trade Ministry’s draft resolution to address obstacles in national energy development for 2026-2030, including updated mechanisms for LNG-to-power projects.

Thai Binh LNG JSC, the project developer, said global shortages of gas turbines have made it increasingly challenging to maintain the current construction schedule.

The company cited surging LNG power investments in the Middle East and the U.S., which have stretched manufacturers’ capacity and led to long delivery lead times.

The investor has also yet to finalize financing agreements with international lenders, preventing it from signing turbine purchase contracts, despite efforts to meet its original commercial operation date (COD) target of 2030.