The Vietnamese gas industry aims to double its exploitation output to reach as much as 21 billion cubic metres by 2035 (Photo: VNA) Hanoi (VNA) – Vietnam’sgas industry aims to double its exploitation output to reach as much as 21billion cubic metres by 2035, according to a master plan approved by PrimeMinister Nguyen Xuan Phuc early this week.
The current output of roughly 11 billion cubicmetres will be maintained to 2020 and pushed up to 19 billion cubic metres by2025 and 21 billion cubic metres by 2035.
Vietnam also plans to import 1-4 billion cubicmetres of liquefied natural gas (LNG) from 2021-25 and 6-10 billion cubicmetres from 2026-35.
The master plan estimates that the gas industrywould need 10.6 billion USD for 2025 and another 8.5 billion USD in the next10-year period to develop gas pipelines, stations, compressed natural gas andLNG plants and LNG warehouses.
Vietnam will encourage investment in the gasindustry while State capital will be used to build infrastructure.
International co-operation will also be promotedto attract investment from multinational oil and gas groups, according to themaster plan. It also says that incentives will be developed to encourageinvestment in producing LNG overseas for distribution in Vietnam.
Under the plan, a database will also be builtwith regular updates, especially in gas reserves, together with the applicationof technology to improve exploitation efficiency and prevent waste of naturalresources.
About 80 percent of the total gas output isexpected to be used for electricity generation.
In addition, gas consumption is set to expand inindustrial production and transport to protect the environment.-VNA
VNA
