Vietnam's LNG power program is falling well behind schedule. Of 18 planned gas-fired projects totaling more than 20 GW, only the LNG Hiep Phuoc plant in Ho Chi Minh City is expected to finish on time. Sixteen projects have picked investors but just two have started construction, according to officials at a government meeting last week. The delays threaten Vietnam's goal of getting 12% of its power mix from LNG by 2030. The trade ministry warned last month that power shortages could start next year as factories and infrastructure push demand higher. Most projects are stuck on land clearance, financing, and power purchase agreements. Coal still supplied 46% of Vietnam's electricity last year, so the gap left by delayed gas plants raises questions about how the grid will handle near-term demand growth.
