SK Innovation Unveils LNG-SMR Plan for Vietnam

SK Innovation has proposed a comprehensive energy plan for Vietnam, focusing on liquefied natural gas (LNG) and small modular reactors (SMR). The company aims to provide stable power infrastructure for the country's rapidly growing industries, including artificial intelligence (AI) data centers and semiconductors.

The plan involves expanding LNG power generation as a short-term solution to meet the surging power demand. SK Innovation plans to utilize its gas field assets and long-term LNG contract portfolios in the United States and Australia to supply fuel at competitive prices and mitigate geopolitical risks.

In the medium- to long-term, the company will deploy next-generation SMR technology as a core power source. SK Innovation is partnering with TerraPower of the United States to commercialize the fourth-generation reactor technology, Natrium. The Natrium technology features an energy storage system (ESS) that allows it to respond flexibly to changes in power demand.

SK Innovation hopes to form a long-term partnership with PVN in the nuclear power plant sector and is conducting technology verification with the goal of commercialization by 2030.