Foreign investors, particularly those from the US, have expressed their interest in investment opportunities in Vietnam’s liquefied natural gas (LNG) infrastructure market to meet the country's energy needs.

Little progress has been reported for most gas-fired power projects. Minister of Industry and Trade Nguyen Hong Dien has asked for measures to speed up project implementation.

Experts believe that use of LNG (liquefied natural gas) will continue, but Vietnam still doesn’t have a legal framework on LNG import and business.

The Ministry of Industry and Trade has approved the electricity price framework for liquefied natural gas (LNG) power plants for 2024, setting the maximum price at VND2,590.85 per kilowatt-hour (kWh), excluding value-added tax (VAT).

So far, as many as 13 LNG power projects have been given in-principal approval for investment. Among them, a total of five projects are in the process of implementation.

Infrastructure, planning and a market mechanism were among key issues that must be addressed in order to develop a market for liquefied natural gas (LNG) in Vietnam, heard participants at a conference on LNG on November 22 in Hanoi.

To set up an LNG (liquefied natural gas) supply chain, PV GAS is joining forces with several units to research and design a process to carry LNG to localities throughout the country.

The 1 million-tonne Thi Vai liquefied natural gas (LNG) terminal project, the biggest of its kind in Vietnam, was officially put into operation in the southern province of Ba Ria - Vung Tau on October 29.

The developers of coal-fired projects have no other choice than to invest in gas-fired power plants. However, there are still no policies for the transition.

Vietnam is on the cusp of becoming a major player in the global liquefied natural gas (LNG) market, according to an article posted on the US website nasdaq.com on October 3.

In Vietnam, about 20 LNG-fired power projects are in the pipeline. Some of these programmes, however, have yet to identify a fuel source.

Too many variables and over-reliance on imports have been hindering Viet Nam's plan to build power plants running on liquefied natural gas (LNG), industry experts have said.

The Japan Petroleum Exploration Co. Ltd. (JAPEX) and Vietnam’s ITECO JSC have freshly signed a share purchase agreement.

The outlook for Vietnam’s emerging liquefied natural gas (LNG) sector remains promising as the country’s need for the product is large to serve its power development plan, according to Fitch Solutions.

Though the LNG market in Vietnam is still in its infancy, both state-owned enterprises like PV Gas and private companies like Angelin Energy see its great potential, reported Nhip Cau Dau Tu.

If the $15 billion LNG project of Millenium Group is approved, it will contribute to making the Nam Van Phong area the largest LNG centre in Southeast Asia.

Liquefied natural gas (LNG) has been an important source of energy for countries worldwide. According to a recent Norwegian-based report, 42 countries are importing LNG to balance their local insufficiency of energy.

Fitch Solutions predicted power consumption in Vietnam to grow by an annual average of 6.5% between 2020 and 2029, which still remains one of the fastest growth rates in Asia.

Vietnam is diversifying its sources of power in the direction of reducing coal-fired power and raising the share of renewable energy and liquefied natural gas-based power, creating a new race for investors.