Econ
Vietnam to import more gas
The sharp decrease in liquid natural gas (LNG) output and increasing prices of new gas resources are forcing Vietnam to look to increase in LNG imports.
The country is expected to import five million tons of LNG by 2025. The figure is expected to increase to 11 million tons by 2030 and 13.9 million tons by 2035.
By the end of this year, the Vietnam National Oil and Gas Group (PetroVietnam) will have supplied more than 100 billion cubic meters of gas.
Gas for electricity production accounted for 90 percent of the country's total gas output, generating around 30 percent of total power output. Gas for fertilizer production contributed 70 percent of the total fertilizer demand.
Vu Dao Minh, deputy head of PetroVietnam's Department of Oil and Gas Exploitation, said the group has been active in promoting the developmental progress of potential gas mines in the basins of Cuu Long, Nam Con Son, and the central and south west regions. The annual gas output has been around 10 billion cubic meters.
However, Minh said that after the year of 2020, current gas mine output will be reduced, thus affecting gas supply. In addition, the development of new gas mines will face high levels of impurities and difficult deep water locations. These factors will affect exploitation, collection and processing costs.
It is forecast that Vietnam's total gas supply will be more than 268 billion cubic meters, while its total demand will be over 344 billion cubic meters in the 2017-2035 period, he said, adding that the supply would not be enough for the development of new power plants under the master electricity plan VII.
By the end of this year, the Vietnam National Oil and Gas Group (PetroVietnam) will have supplied more than 100 billion cubic meters of gas.
Vu Dao Minh, deputy head of PetroVietnam's Department of Oil and Gas Exploitation, said the group has been active in promoting the developmental progress of potential gas mines in the basins of Cuu Long, Nam Con Son, and the central and south west regions. The annual gas output has been around 10 billion cubic meters.
However, Minh said that after the year of 2020, current gas mine output will be reduced, thus affecting gas supply. In addition, the development of new gas mines will face high levels of impurities and difficult deep water locations. These factors will affect exploitation, collection and processing costs.
It is forecast that Vietnam's total gas supply will be more than 268 billion cubic meters, while its total demand will be over 344 billion cubic meters in the 2017-2035 period, he said, adding that the supply would not be enough for the development of new power plants under the master electricity plan VII.
