Vietnam Aims to Become Regional LNG Hub Amid Energy Transition
Vietnam is positioning itself as a regional liquefied natural gas (LNG) hub, aiming to meet rising demand projected to reach 4,700 billion cubic meters by 2030. The country is advancing key LNG projects to achieve a gas-fired power capacity of 9,000-10,000 MW while addressing challenges such as price volatility and the need for improved policy frameworks. Experts advocate for better integration of LNG planning with energy infrastructure to enhance market transparency and support foreign investment.
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Vietnam is positioning itself as a regional liquefied natural gas (LNG) hub, driven by rising natural gas demand expected to reach 4,700 billion cubic meters by 2030. As ASEAN becomes a net LNG importer, with imports projected to rise to 120-130 billion cubic meters by 2030, Vietnam is developing key LNG projects, including Nhon Trach 3 and 4, to reach a gas-fired power capacity of 9,000-10,000 MW by 2030.
Experts highlight Vietnam's strategic location for LNG re-export and its potential to support foreign-invested manufacturing supply chains. However, challenges include price volatility, supply chain disruptions, and the need for improved policy frameworks.
The Vietnam Petroleum Association has called for better integration of LNG planning with energy infrastructure and proposed a Gas Law to enhance market transparency. The forum also emphasized the need for a balanced approach to market development to capitalize on opportunities while mitigating risks.
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