Lng

The draft power development plan (PDP) VIII estimates about US$128.3 billion will be needed over the next decade, in order to achieve the natural gas and renewables targets.

Infrastructure need to be improved and developed to meet the domestic demand for LNG in the future.

Gas demand is expected to rise from about 9.7 billion cubic meters (bcm) in 2020 to above 25.3bcm in 2030, while influx of LNG helps to counter the decline in domestic production.

This transaction is expected to close in late 2021 or early 2022, subject to customary approvals, including from the Vietnamese Government and the minority partners in the Mong Duong 2 plant.

Gas-fueled power is believed practical energy supply for Vietnam’s power mix in decades to come.

The existing legal framework has not been strong enough to support the sector that is in its fledgling state.

The ratio of gas-fueled power in Vietnam’s power mix is increasing with foreign inflows in LNG power projects and terminals.

US firms are spearheading the developments of 12 out of the 22 LNG-to-power projects in the pipeline worth a combined US$35.9 billion.

Vietnam sets an ambitious plan to develop LNG-to-power projects to make this a major energy source for the country.

Three reasons are cited for US interest in Vietnam’s LNG market, of which, high demand becomes crucial for future deals.