 Seminar on LNG development in Vietnam (Photo: Ngoc Anh/ VOV5) |
Experts said that Vietnam’s energy sector has many opportunities to develop liquefied natural gas (LNG), but there are still many challenges to realize it. The government and authorities have clearly recognized the importance of LNG in the context of energy development in combination with environmental protection.
Associate Professor, Dr. Nguyen Thuong Lang, senior lecturer at the National Economics University, said: “First, the State should offer necessary incentives or protection measures. Second, the early stage should have assistance from the State, such as financial and policy support to reduce costs for the electricity industry. Third, it is necessary to create a competitive market. These are the driving force for the market to develop."
Mr. Lang added that the potential of the LNG industry is huge given international trends and called for support for Vietnam’s large LNG businesses to invest in gas mines and develop gas power in other countries.
The national electricity development orientation aims to reduce the proportion of coal-fired thermal power and develop domestic LNG. By 2030 domestic gas thermal power is estimated to reach 14,930 MW, accounting for 9.9%, and LNG power at 22,400 MW, equivalent to 14.9%.