The event took place within the framework of an official visit to France and attending the Outer Space Summit from September 10-12 of General Secretary and President To Lam and his wife and a high-level Vietnamese delegation.

The Long Son LNG Power Plant project in Ho Chi Minh City has a total preliminary investment of nearly 40,000 billion VND, equivalent to more than 1.5 billion USD, with a capacity of about 1,500 MW. Upon completion, this will be one of the largest LNG power plants in Vietnam, playing a key role in ensuring energy security for the Southern region and the whole country in the energy transition period to 2050.

Currently, the project has been approved by Ho Chi Minh City. Ho Chi Minh City approved the investment policy as well as included in the Power Plan VIII according to the Prime Minister's Decision No. 768/QD-TTg on approving the adjustment of the National Electricity Development Plan for the 2021-2030 period, with a vision to 2050.

According to the memorandum of understanding, TotalEnergies Gas & Power Activities and T&T Energy Group expressed their desire to jointly study the potential of establishing a joint venture to develop the Long Son LNG project, with the goal of building and operating an LNG power plant and supplying LNG at competitive prices for the project.

TotalEnergies Gas & Power Activities will be the investor and co-developer of the Long Son LNG Project, responsible for issues such as power plant investment and LNG infrastructure; supply liquefied natural gas at competitive prices; assume the prime responsibility for financial arrangements for the Project.

Meanwhile, T&T Energy Group will be the investor and co-developer of the project, responsible for legal issues related to the project in Vietnam such as coordinating with provincial, local and central government agencies on development, financing, construction, operation and maintenance of the project; carry out legal and administrative procedures to obtain necessary approvals from the Government.

The Memorandum of Understanding also defines the direction of cooperation on LNG supply. After the joint venture is officially selected as an investor for the project, the two sides will participate in the negotiation of the LNG Purchase and Sale Agreement so that TotalEnergies will become the LNG supplier for the project.

TotalEnergies Gas & Power Activities is a company of TotalEnergies SE – a global integrated energy corporation operating in many sectors. TotalEnergies is currently one of the major LNG operators in the world, with a global portfolio of 44 million tonnes per year by 2025. The Group operates across the entire LNG value chain, from production, transportation, regasification to LNG trading and supply.

In Vietnam, TotalEnergies is currently one of the LNG suppliers for the Thi Vai terminal, serving the gas source for the operation of Nhon Trach 3 and Nhon Trach 4 power plants managed by PV Power.

T&T Group is a leading investor and project developer in the field of clean energy in Vietnam with the core unit being T&T Energy Group, with a total portfolio of projects that have been invested to reach a capacity of about 2,900 MW, of which nearly 1,200 MW have been commercially operated.

In addition to a series of renewable energy projects in many provinces of Vietnam, T&T Group also successfully developed the Savan 1 wind power project in Laos - a clear demonstration of T&T Group's ability to implement large-scale cross-border energy projects. In difficult terrain, infrastructure and construction organization, phase 1 of the project with a capacity of 300 MW has been completed in a record time of 16 months, put into operation from the end of 2025, providing about 0.9 billion kWh of electricity/year. In addition, T&T Group also built a 220 kV transmission line from Laos to Vietnam, increasing the operational efficiency of the Savan1 project, contributing to ensuring national energy security.

For the gas power sector, T&T Group is working with Korean partners to develop the Hai Lang LNG project phase 1 with a capacity of 1,500MW in Quang Tri province. The cooperation with TotalEnergies to develop the Long Son LNG power project this time will continue to increase the portfolio of wind power projects. T&T Group's solar power, biomass power, LNG and other clean energy sources across the country, with the goal of reaching a total capacity of 25-30 GW by 2035, equivalent to about 10% of the total power capacity of Vietnam's power system.