SK Innovation Proposes LNG-SMR Energy Partnership for Vietnam's Power Crunch
SK Innovation is advancing a phased energy cooperation strategy in Vietnam to address the expected surge in power demand due to growth in artificial intelligence and advanced industries. The company proposed linking liquefied natural gas (LNG) with small modular reactors (SMRs) during CEO Choo Hyung-wook's visit to Vietnam on January 16th and 17th.
SK Innovation plans to supply LNG in the short term to enhance power supply stability, while expanding cooperation to next-generation SMRs over the long term. The company aims to establish a stable power supply chain for attracting future investments in advanced industries requiring large-scale electricity, such as AI data centers and semiconductors.
The company plans to diversify supply regions by leveraging its gas field assets secured in the U.S. and Australia, along with its long-term LNG contract portfolio. This will reduce dependence on specific areas and lower geopolitical risks. SK Innovation also aims to establish a procurement system with price competitiveness and supply stability by linking U.S. and Australian LNG.