Petrovietnam: Pioneer in the journey of energy transformation

Pioneering pillar of electrification

According to the adjusted Power Plan VIII, the structure of gas-fired thermal power sources (including natural gas and LNG) by 2030 is expected to reach more than 37,000 MW, equivalent to nearly 1/4 of the total capacity of the entire system, accounting for the largest proportion in the national power source structure. One of the strategic directions established by Petrovietnam is to develop the LNG power value chain.

The Group has soon proposed the development model of "LNG Center" instead of small and scattered port warehouses, thereby optimizing investment costs, effectively coordinating supply and enhancing national energy security. One of the key projects to realize this orientation is the Thi Vai LNG port warehouse invested by PV GAS - a member unit of Petrovietnam.

Petrovietnam hands over 33 offshore wind power bases to customer Orsted (Denmark). Photo: PVN

This is the first and largest LNG port warehouse in Vietnam today, with a phase 1 capacity of 1 million tons/year, currently being upgraded and expanded to 3 million tons/year. The warehouse is equipped with a 180,000m3 tank ^, a large-capacity regasification system, capable of receiving ships of up to 100,000 DWT. The event of putting the LNG Thi Vai port warehouse into operation in 2023 marks an important turning point in Petrovietnam's strategy of diversifying clean fuel supply sources for power generation.

Associated with the LNG power development orientation is the Nhon Trach 3 and 4 Power Plant project chain, using imported LNG, with a total capacity of 1,624MW. This is the first LNG power plant complex in Vietnam to use new generation, high efficiency and environmentally friendly gas turbines.

Nhon Trach 3 and 4 power plants were officially connected to the national grid in February and June 2025, respectively, initially adding 100MW to the national power system and reaching full capacity by the end of this year. When operating stably, Nhon Trach 3 and 4 are expected to provide more than 9 billion kWh of commercial electricity per year, contributing significantly to meeting the increasing load demand of the Southern region.

In addition, in order to effectively implement the oil and gas industry development strategy in the spirit of Conclusion No. 76-KL/TW of the Politburo and keep up with the energy transition trend, Petrovietnam and EVN signed a memorandum of understanding on the supply of LNG from the Vung Ang LNG warehouse to the Quang Trach II LNG Thermal Power Plant. This is a project to convert from coal to LNG, with a capacity of 1,500 MW, added to the Power Plan VIII, expanding the scope of LNG power development from the South to the North, creating a regional linkage axis and reducing pressure on the inter-regional transmission grid.

Along with developing electricity from imported LNG, Petrovietnam is investing in a synchronous gas-electricity chain using domestic gas. A typical example is the Block B - O Mon project chain, including gas exploitation items from Block B field, a gas pipeline of more than 400km to the O Mon Power Center ( Can Tho ) and 4 gas-fired power plants with a total capacity of nearly 3,800MW.

In particular, Petrovietnam directly invested in O Mon IV unit (1,155MW) to ensure synchronization in operation and exploitation of the gas - electricity value chain. When put into operation, the project is expected to provide about 5 billion cubic meters of gas/year, contributing to enhancing energy security for the Mekong Delta region.

Building internal capacity in offshore wind power

In parallel with electricity, Petrovietnam is proactively expanding into the renewable energy sector, especially offshore wind power - which is assessed to have the greatest potential in terms of installed capacity (estimated at up to 100GW).

With a technical foundation in geological survey, marine geophysics and offshore construction, Petrovietnam is currently one of the very few domestic enterprises capable of designing, manufacturing and constructing offshore wind power components, not only in terms of technology and investment, but also in terms of deployment scale and supply chain expansion.

2023 marks a strong move by Petrovietnam to participate in the global offshore wind power supply chain, through mechanical engineering contracts for wind farms in Asia and Europe. In particular, PTSC - a member unit of Petrovietnam has invested heavily in equipment lines, human resources and infrastructure. Thanks to that, the manufacturing time of wind power bases weighing thousands of tons has been shortened from 10 months to just 2 weeks.

In the period of 2023 - 2025, Petrovietnam will implement a series of specific projects at home and abroad, notably a USD 300 million contract with Orsted (Denmark) to manufacture 33 wind turbine bases for the Greater Changhua 2b & 4 project (Taiwan); manufacture an offshore transformer station (OSS) for the Baltica 2 project (Poland) - one of the largest offshore wind power projects in the Baltic region, with a capacity of 1.5GW.

At the same time, Petrovietnam also expanded regional cooperation. On May 26, 2025, Petrovietnam signed a tripartite agreement with Tenaga Nasional - Petronas (Malaysia) and Sembcorp (Singapore), jointly developing an offshore wind power project of more than 2,000MW in Vietnam, connected via submarine cables, to export electricity to countries in the region. Previously, since 2023, the PTSC - Sembcorp Joint Venture has implemented an offshore wind power project in Ba Ria - Vung Tau, with a capacity of about 2.3GW, with a licensed survey sea area of up to 188,000 hectares.

At the same time, Petrovietnam is coordinating with the Ministry of Industry and Trade to develop a pilot project for offshore wind power development in Vietnam. Petrovietnam's member units/affiliated units have completed many survey items, prepared technical documents and are ready to deploy the first projects as soon as they are licensed. Along with that, Petrovietnam is surveying and preparing technical and legal premises to develop offshore wind power projects, especially in the South and North Central sea areas, where wind speeds are ideal.

By mid-2025, the total value of contracts and cooperation agreements signed by Petrovietnam in the offshore wind power sector has exceeded the 1 billion USD mark, affirming the Group's comprehensive leading role in developing the offshore wind power industry, both at the national and regional levels.

Proactively researching, investing and building internal capacity in the offshore wind power sector is a strategic step of Petrovietnam, aiming to anticipate the energy transition trend, contributing to improving Vietnam's self-reliance in the offshore wind power industry.

Source: https://daibieunhandan.vn/petrovietnam-tien-phong-trong-hanh-trinh-chuyen-doi-nang-luong-10380041.html