Vietnam’s demand for imported gas to skyrocket to 40 bcm by 2035: PV Gas
Energy demand will rise strongly in Vietnam as the country needs power to run its fast-growing economy.
Vietnam is estimated to need up to 40.1 billion cubic meters (bcm) of imported natural gas by 2035, 40 times the current demand, according to PetroVietnam Gas Joint Stock Corporation (PV Gas), the largest gas supplier in the country.
| Tran Hoang Thai, deputy general manager of contract division at PV Gas. Photo: Minh Tuan|
Demand for natural gas in Vietnam would rise sharply from 1 bcm in 2020 to 8.7 bcm in 2025 and 23.6 bcm in 2030, Tran Hoang Thai, deputy general manager of contract division at PV Gas, said at the 5th International Downstream-Tech Vietnam taking place in Hanoi on November 12-13.
The total volume by 2035 includes three-quarters for new combined cycle gas turbine (CCGT), a type of combined cycle power plant, Thai said at the event held by ConnecForce Limited – an emerging B2B service company actively planning and organizing regional strategy and technology events.
| Source: PV Gas. Chart: Linh Pham|
The demand is likely to rocket from 2025 onwards with the volume required by new CCGTs, Thai said, adding that the trend will be in line with the government’s energy transition in which cleaner and greener energy will be prioritized.
Accordingly, the new CCGT capacity would surge to 31,680 megawatts (MW) by 2035 from 750 MW in 2022.
Under the government’s master plan, new CCGTs will appear across the country, including Haiphong in the north, Son My 1, Son My 2, Ca Na, and Khanh Hoa in the central region, Nhon Trach 3 & 4, Long Son, Vung Ang, Phu My 3 extension, Kien Giang, Hiep Phuoc extension, Tan Phuoc 1, and Long An in the south.
Of the new CCGTs, Ca Na plant would be the biggest consumer of liquefied natural gas (LNG) once it becomes operational in 2027. The complex project is designed to have a total capacity of 6,000 MW including four turbines, costing an investment of US$8 billion, according to local media.
Following the increasing demand for gas, Vietnam would face a gas shortage which is estimated to hit 12 bcm by 2035 from 7 bcm in 2030, 3 bcm in 2025 and 1 bcm in 2020.
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