Indel Petro – A New Player of Vietnam’s Green Energy Future

Synthesized from the speech of Dr. Tran Van The - Chairman of Indel Corp Group at the Seminar on United Hydrogen - Making Hydrogen the driving force for industrialization in Vietnam and ASEAN
Date: September 26, 2025

As the global energy transition accelerates, pressure is mounting on nations to reduce carbon emissions and pivot towards low-carbon economies. Vietnamese enterprises are no exception – they must secure energy supplies while seizing opportunities from the green transformation. Indel Petro, a key member of Indel Corp, is positioning itself as one of Vietnam’s pioneers in this “dual transition”: optimizing its traditional petroleum business while boldly investing in hydrogen, LNG, and wind energy.

A Solid Foundation for Transition

Indel Petro began with core infrastructure in petroleum logistics, building a network of storage terminals and ports that now serve as critical energy nodes:

• Nam Song Hau Petroleum Terminal – Can Tho:
  With a port and water surface area of 21,358 m² capable of accommodating vessels of up to 15,000 DWT, and eight storage tanks totaling 17,600 m³, this facility is the largest petroleum hub in the Mekong Delta, ensuring reliable fuel supply for millions of residents and businesses.

• Ninh Co Port Economic Industrial Zone – Ninh Binh:
  Spanning 930 hectares, this integrated project includes two dedicated berths for containers, bulk cargo, and liquid/gas products. It is planned as a logistics hub for Northern Vietnam, featuring storage facilities for LNG and petrochemical products, and serving as a base for future energy and petrochemical industries.

These assets not only reinforce Indel Petro’s leading role in Vietnam’s conventional energy supply chain but also provide the essential infrastructure to receive LNG, deploy hydrogen production, and facilitate clean fuel imports and exports.

Strategic Focus on Hydrogen, LNG, and Wind

Indel Petro’s growth strategy is built around three key pillars of green energy development:

1. Green Hydrogen & Ammonia

Indel Petro is advancing a green hydrogen and ammonia production complex in the Van Phong Economic Zone (Khanh Hoa) with an estimated investment of over VND 6,000 billion. The project will harness abundant solar and wind power resources in Central Vietnam to produce green hydrogen via water electrolysis, targeting:

• Heavy industry (steel, fertilizer, refining).

• Transportation (hydrogen-powered trucks and ships).

• Export markets including Japan, South Korea, and Singapore, which are actively seeking stable green hydrogen supply chains.

Additionally, Indel Petro has partnered with United Hydrogen to develop a chain of hydrogen projects in Khanh Hoa and Gia Lai, combining domestic production with localized consumption, progressively reducing Vietnam’s dependence on fossil fuels.

2. LNG Infrastructure & Gas-to-Power

The company is also developing a large-scale LNG terminal in Van Phong with a total investment of over VND 2,300 billion. This terminal will serve as a critical gateway for LNG imports, supporting existing and future gas-fired power plants while providing a potential feedstock for hydrogen production via reforming combined with carbon capture, utilization, and storage (CCUS).

3. Wind Turbine Supply Chain & Industry Localization

Indel Petro is working to manufacture Skywind wind turbines domestically, gradually localizing component production and reducing wind project costs. At the same time, the company is investing in a Renewable Energy Academy (RE Academy) to train engineers and technicians, building a skilled local workforce to support Vietnam’s renewable energy sector in the long term.

Enablers and Challenges

Indel Petro benefits from a mature policy framework including Resolution 55-NQ/TW, Power Development Plan VIII, and Decree 58/2025/ND-CP. These policies, together with green credit programs and Environmental & Social Risk Management Systems (ESMS), make it easier for the company to access concessional financing from domestic and international lenders.

Nevertheless, hydrogen and LNG projects face several challenges:

• Massive capital requirements (tens of trillions of VND).

• Infrastructure readiness (grid connection, deep-water port facilities, storage).

• Stable market demand and price mechanisms, especially a transparent hydrogen and LNG pricing framework to ensure bankability for investors.

Indel Petro is working closely with government agencies and international financiers to resolve these issues and is actively seeking strategic partners to share risks and accelerate implementation.

Socio-Economic Impact

Indel Petro’s projects are expected to generate:

• Thousands of new jobs during construction and operations.

• A domestic supply chain for hydrogen, LNG, and wind industries, reducing dependence on imported technology and materials.

• Significant CO₂ emission reductions, contributing to Vietnam’s Net Zero 2050 target.

• Regional economic growth, boosting local GDP and tax revenues in Khanh Hoa, Gia Lai, Can Tho, and Ninh Binh.

Long-Term Vision

Indel Petro is not merely an energy investor – it is becoming an architect of Vietnam’s clean energy ecosystem, connecting LNG infrastructure, hydrogen-ammonia production, wind turbine manufacturing, and workforce development into a coherent long-term strategy. Its approach is fully aligned with global energy transition trends and is positioning Vietnam as a future hub for green fuel production and export in the ASEAN region.