LNG power projects in Vietnam are currently grappling with many obstacles, ranging from bureaucratic delays to issues with power purchase agreements (PPAs), leading to significant project implementation slowdowns.
Vietnam is making significant strides toward transforming its energy sector by fostering a competitive and sustainable market to meet the nation’s socio-economic development demands.
Vietnam’s exports expanded about 13.8% year-on-year in the first half of this year, and imports rose 18.4%, the Ministry of Industry and Trade (MoIT)’s Planning and Finance Department said at a press conference in Hanoi on June 19.
The Vietnam Oil and Gas Group (Petrovietnam) has made remarkable achievements, surpassing assignments excellently and ensuring safe and stable production and business, importantly contributing to stabilising the market and ensuring national energy security.
The North-South 500kV transmission line - circuit 1 helps unify the electricity network in the three regions of Vietnam and represents a significant turning point that demonstrates the vision of the Party and the State regarding strategic economic development and ensuring national energy security.
Prime Minister Pham Minh Chinh has assigned relevant ministries and agencies to remove any existing obstacles as soon as possible, thus providing unwavering support for the Vietnam Oil and Gas Group (Petrovietnam) to further develop and ensure national energy security.
Vietnam needs to develop its energy sector in tandem with economic development, thereby constructing appropriate strategies to promote sustainable development and ensure national energy security, said insiders.
Deputy Prime Minister Le Minh Khai has recently signed a decision approving the restructuring scheme of the Vietnam Oil and Gas Group (Petrovietnam) until the end of 2025.
Deputy Prime Minister Tran Hong Ha has signed a decision approving a plan for the implementation of the Political Declaration on establishing the Just Energy Transition Partnership (JETP Declaration).
The Vietnam Oil and Gas Group (PetroVietnam) should focus on digital transformation and energy transition, Prime Minister Pham Minh Chinh said while addressing the group's conference in Hanoi on January 10 to review its 2022 activities and launch tasks set for 2023.
Energy is among potential fields for investment cooperation between Vietnamese and US firms, with Prime Minister Pham Minh Chinh announcing that Vietnam gives high priority to sustainable energy development to maintain national energy security and reduce greenhouse gas emissions, according to Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong.
The south central coastal province of Ninh Thuan has worked to turn itself among leading localities of Vietnam in renewable energy, with a total installed capacity of 3,475 MW as of late 2021.
The increasing proportion of clean energy such as solar and wind power in recent years has helped Vietnam diversify energy sources and reduce its dependence on imported energy, thus enhancing its national energy security, said Director of the Ministry of Industry and Trade’s Department of Electricity and Renewable Energy Hoang Tien Dung.
With the goal of helping to guarantee national energy security and in response to a downward trend in oil and gas extraction output, the Vietnam Oil and Gas Group (PetroVietnam) has identified the research and assessment of its opportunities in developing the hydrogen industry, including producing “green” hydrogen and exploring natural hydrogen sources, as a crucial task.
A contract on a bidding package worth 30 trillion VND (nearly 1.29 billion USD) on engineering, procurement and construction (EPC) of the Quang Trach 1 thermal power plant in the central province of Quang Binh was signed in Hanoi on June 17.
General Director of the Vietnam Oil and Gas Group (PetroVietnam) Le Manh Hung recently chaired a meeting to update the firm’s scientific research programme for 2021 - 2025.
Mastering technology and constantly creating innovations are the ongoing aims of scientific and technological development and application projects conducted by the Vietnam Oil and Gas Group (PetroVietnam). The success of such projects has generated trillions of VND for Vietnam, ensuring the profitability of oil and gas fields and plants and helping many localities improve people’s living standards.
A Vietnam Technology and Energy Forum convened on September 17 to boost technological applications for effective use of traditional energy sources and transfer of new energy technologies.
The Ministry of Industry and Trade has asked for stronger efforts to ensure national energy security, prioritise rapid and sustainable energy development in connection with protecting ecological environment, and ensuring national defence and security.
