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Vietnam’s need for LNG projects is greater than ever due to instability of the power system, power shortages caused by delayed investment of other power projects and energy security requirements. For Vietnam, coal and hydro reserves are running out, local gas fields are being depleted, renewable energy is limited and relies on certain weather conditions and nuclear power projects are on hold. In these circumstances, imported LNG and gas power emerge as comparatively desirable solutions to ensure energy security.

The master plan for the gas industry until 2035 was issued by Vietnam’ s Prime Minister under Decision 60/QD-TTg dated 16 January 2017 (the Gas Master Plan). According to the master plan, the import of LNG will be started by 2021 and import demand will be increased to around 5 million tons of LNG by 2025, 10 million tons by 2030, 15 million tons by 2035 (accounting for about 1.6% of total world LNG imports)

To achieve this target, Vietnam will reinforce the development of LNG terminal systems and related facilities mainly located in Southern Vietnam. Meanwhile, research and investigation will be carried out in the North and Central Vietnam for future needs of LNG. 

On the other hand, according to the National Steering Committee for Electricity Development, by 2030, the capacity of new power plants using liquefied natural gas (LNG) will be 12,750 MW, excluding old power plants converted to use LNG. At the turning point of energy transition, Vietnam will be one of the countries that import LNG to substitute declining domestic gas production.

Therefore, to further push forward the LNG-to-power value chain development and facilitate collaboration between local and international, Neoventure is planning the 2nd Vietnam LNG-to-Power Summit 2020, which will be held in Ho Chi Minh City on 15-16 October 2020. The summit will combine Exhibition, Conference, Project Match-Making Forum to create a one-stop platform for all industry players from gathering market information and updates to expanding businesses with potential partners.

We do welcome your participation in October!