Demand for LNG from Vietnam's power sector is set to reach 8.5mn t/yr by 2030, the country's industry ministry said today.
This demand is expected to jump from 1.5mn t/yr in 2025, as the country begins importing LNG. Demand from the power sector for coal imports is also set to rise to 35.1mn t in 2025 and 45mn t in 2030.
Planned increases in LNG import capacity appear set to match the expected power demand growth. Three planned import projects — with a combined capacity of about 13mn t/yr — already have received governmental approval and are scheduled to come on line in 2023-25. A number of other import projects are also planned, which could further buoy the country's nominal import capacity and may suggest limited utilisation if these are commissioned, unless substantial city gas and industrial demand for LNG emerges.
But the increased demand for LNG will not be driven solely by declining domestic gas production, as Vietnam plans to increase its total installed power capacity — encompassing all generation types — to 138GW in 2030 and 302GW by 2045, from about 56GW by the end of this year.
This article is reproduced at agusmedia.com
