November 24, 2021 Read More →

Vietnam mulls power plan changes to curb LNG, boost renewables

S&P Global Platts ($):

Vietnam is looking to reduce the share of fossil fuels, including natural gas and coal, in its future energy mix, while renewables will rise in line with its recent net zero pledge and as securing global funding for fossil fuel projects becomes harder.

The Vietnamese government on Nov. 19 held a conference to discuss possible changes to its draft power development plan over 2021-2030 with a vision to 2045, called PDP8, which provides the road map for its power sector including an exhaustive list of proposed projects.

Under the latest version of the plan presented by the Ministry of Industry and Trade, or MoIT, at the conference, power generation capacity from new imported LNG will be slashed to 22.4 GW by 2030 from 40.95 GW in the draft published in March. The planned power generation capacity from new LNG by 2045 will also fall to 55.75 GWt, from 83.55 GW in the March draft.

However, power generation capacity from domestic natural gas and the conversion of coal-fired plants to LNG will be kept unchanged at 14.78 GW by 2030 in the new draft.

[Eric Yep]

More: Vietnam cuts back on LNG, coal-fired power projects after net zero pledge

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