Vietnam LNG Power Project Eyes Green Pivot on Soaring Gas Prices

Vingroup JSC has asked the Vietnamese government to allow it to replace a large liquefied natural gas power project with renewable energy, citing surging fuel prices linked to the Middle East conflict.

The rapid increase in LNG prices — due to war-driven supply disruptions in key exporter Qatar and intensifying competition among Asian buyers for limited supplies — has underscored significant risks for import-dependent projects like Vingroup’s proposed Haiphong LNG-to-power facility, it said in a letter seen by Bloomberg News.