TotalEnergies, T&T Group Ink $1.54B LNG Power Deal for Southern Vietnam

T&T Energy Group and TotalEnergies Gas & Power Activities have signed an agreement to develop an LNG-fired power project, "Long Son," in Ho Chi Minh City — timed to coincide with a Vietnamese state visit to France. The project is valued at roughly VND 40 trillion (about USD 1.54 billion) and centers on a 1,500 MW power station.

Under the deal, TotalEnergies will handle project financing and supply LNG fuel on competitive terms, while T&T manages local approvals and administrative processes. The project already holds investment authorization and is included in Vietnam's updated national power development plan.

T&T Group already operates about 1,200 MW of renewable assets and is separately developing a second 1,500 MW LNG plant, "Hai Lang Phase 1," in central Vietnam with South Korean partners. The group has stated an ambition to grow its clean-energy portfolio to 25-30 GW by 2035 — roughly a tenth of Vietnam's projected total grid capacity at that point.

Source: The Investor. Read the full article.