VietNamNet Bridge – Viet Nam will likely have to import crude oil and coal by 2015 due to high rising power demands and restricted mineral resources.

Viet Nam will likely have to import crude oil and coal by 2015 due to high rising power demands and restricted mineral resources.

The assessment was made by Nguyen Van Long, deputy director of the Ministry of Industry and Trade's Science, Technology and Power Saving Department

Long anticipated that power consumption demands in the country would surge roughly 2.5 per cent by 2015 and continue to grow sharply from then.

Currently, the country's power consumption growth is 1.8 times higher than its economic growth.

Huy Quang from the Power Department said that the country had seen a growing imbalance between domestic power supply and demand since 2010.

Quang recommended relevant agencies to take bolder measures to help firms and individuals, especially those in urban areas, become aware of the importance of power saving to be able to use it effectively.

The Government has so far taken measures to encourage the export of processed minerals and reduce the shipment of raw materials.

However, according to customs data, the country's exports of crude oil, coal, ore and minerals have remained high, staying at US$9.65 billion last year, accounting for 8.4 per cent of the country's total export revenue.

The move has been improved this year with customs data showing that exports of crude oil in the first nine months this year dropped 11.8 per cent while the decreasing figure for coal was 25.3 per cent.

Source: VNS