Promoting sustainable energy cooperation between Vietnam and Australia
Updated at Tuesday, 22 May 2018, 14:39
The Hanoitimes - The Vietnam-Australia Energy Roundtable 2018 has been organised by the Australian Government in partnership with the Vietnam’s Ministry of Industry and Trade on May 22 in Hanoi.
The event saw the attandance of the Australian business delegation which includes leading engineering, procurement and construction contractors, technical and equipment suppliers, coal suppliers and end-to-end project management and commercial consulting companies.
Trade Commissioner Shannon Leahy at the Australian Embassy said that Australia’s trade and investment relationship with Vietnam has been the fastest growing of all ASEAN economies over the past decade, with two-way trade and investment now standing at USD11.8 billion.
"Energy is one of the key sectors driving our bilateral trade,” he said.
Australia is renowned as innovative solutions for coal, gas and renewable energy
According to the Australian Embassy, Vietnam is Australia's fifteenth largest trading partner, and Australia is Vietnam's seventh largest trading partner.
The Energy Roundtable is being organised by the Australian Government and the Vietnam Ministry of Industry and Trade to share Government and industry experience on meeting energy development needs and challenges.
Vietnam Government priorities, major energy projects in Vietnam and opportunities for collaboration will be presented to Australian delegates at the forum.
Similarly, Australian delegates will showcase Australia’s expertise and capability in coal (including clean coal), infrastructure, consultancy, project management and technology, and innovation including in renewable energy.
Australia’s energy supply chain is well developed with advanced solutions for coal, gas and renewable energy. Australia also has leading policy experience through the development and regulation of energy markets.
Australia’s experience and strengths are in line with Vietnam’s needs to ensure both energy security and the sustainable development of its energy industry. With large reserves of mineral and energy resources, Australia is a world-leading producer of coal, gold, iron ore and uranium, and will soon be the world’s largest Liquefied Natural Gas (LNG) exporter.
Australia is also ranked in the world’s top 15 countries for solar and wind generation. Australia’s abundant resources and proximity to Asia underpin our advantageous position as a major global exporter of mineral and energy resources.
This year’s Energy Roundtable follows a successful Australian energy forum held in 2017, where a policy dialogue was opened between the Australian Energy Regulator and the Electricity Regulatory Authority of Vietnam, assisting Vietnam to enhance the competitiveness and transparency of its power market, with the aim of creating a positive signal to attract investment in developing new power resources in Vietnam.
In the Power development plan of Vietnam, coal occupies the dominant position in the energy mix and exceeds the supply capabilities of Vietnam’s domestic coal industry. The need for cheap and reliable energy to fuel economic growth will ensure coal remains an important part of the energy mix for Vietnam going forward.
“Continuous improvements in mining technology, health, safety and environmental safeguards, have ensured that Australia is an efficient and reliable producer of quality, low emissions coal. As Vietnam transitions both to cleaner coal and renewable energy solutions, Australian industry stands ready to collaborate and assist,” said Mr. Shannon Leahy.
The Australian Government and agencies researching in the energy sector is helping to bolster Australia's future energy orientation, aiming to increase the share of renewable energy in the national energy in Australia. Wind and solar energy continues to grow, relieving pressure on Australia's grid and contributing to reducing carbon emissions.