SK Innovation Courts Vietnam for LNG and Nuclear Energy Partnerships

SK Innovation is exploring opportunities for energy cooperation with Vietnam's government and state-owned energy companies. The company, led by Chief Executive Chu Hyung-wook, discussed potential partnerships in liquefied natural gas (LNG) and small modular reactor (SMR) projects to support the country's growing electricity demand.

The firm expects Vietnam's electricity demand to rise rapidly due to expanding AI data centers and advanced manufacturing industries. To address this need, SK Innovation proposed a phased cooperation strategy that would utilize LNG in the near term and SMRs over the longer term.

The company plans to supply fuel for Vietnamese power generation projects using its gas field assets in the US and Australia, along with long-term LNG supply contracts. This approach aims to diversify fuel sources, reduce price and supply volatility, and strengthen Vietnam's energy security.