The power shortfall threatens an economy where GDP grew 9.95% year on year in Q3, the fastest rate in four years, and exports rose 24.5%. Vietnam requires growth of about 12% in Q4 to hit its full-year target, forcing it to rely on coal and imports to fill the gap. Some observers suggest the delays avoid locking in crisis-level Asian LNG prices near $25, potentially allowing the government to negotiate better terms after a projected supply wave in 2028.
Wednesday, October 21, 2026
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Vietnam LNG Power Plan Stalls With Only 1 of 18 Projects on Schedule
Commodities15 days ago
The Hiep Phuoc facility remains the sole monitored gas power plant meeting its construction deadlines in Vietnam as the country struggles to power its industrial expansion. The national energy strategy relies on deploying 22.5 GW of LNG fired plants across 15 projects by 2030, but the majority are behind schedule due to failures in land clearance, financing, and construction contracts. Lenders are refusing to fund new plants without power purchase agreements and fixed-price gas supply deals, which buyers avoid at current market rates.
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