Exclusive: Vingroup proposes scrapping LNG-powered plant plan for renewables amid Iran war, document shows
By Francesco Guarascio
Published on March 31, 2026.
Vingroup, Vietnam's largest conglomerate by market capitalisation, has proposed scrapping a LNG-powered plant for renewables amid the Iran war. The move comes amid an 85% increase in LNG prices since the U.S. and Israel launched strikes on Iran on February 28. Vingroup cited the risk of high fuel prices for LNG power projects and suggested an investment plan for a hybrid renewable energy project with a battery energy storage system (BES), which would significantly increase its costs. The company also suggested a suitable electricity pricing mechanism.
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