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SK Innovation has been awarded a $2.3 billion liquefied natural gas (LNG) project in Vietnam, collaborating with PV Power and NASU. The consortium will construct an LNG terminal, a dedicated port, and a 1.5-gigawatt combined-cycle power plant in Nghe An Province by 2030, with construction beginning in 2027.

This initiative will expand SK Innovation's LNG capacity from 6 million tons per year to 10 million tons. The project is part of a long-term strategy with the Vietnamese government to support industrialization and carbon neutrality, integrating energy supply with high-value sectors.