Deputy Prime Minister Tran Hong Ha has signed a decision on approving the national plan on reserving and supplying petroleum and gas products for 2021-2030, with a vision towards 2050.

The plan aims: to develop infrastructure to store and supply petroleum and gas, including strategic reserve, reserve for production, trade, transport and distribution; to supply sufficiently, safely and continuously products when necessary; ensure a crude oil and petroleum product reserve capacity equal to 75-80 days of net imports, or up to 90 days of net imports; and ensure a gas reserve capacity that satisfies the domestic market demand and material gas for the energy sector and industry.

As for petroleum storage infrastructure, the reserve will be equal to 20 days of net imports in 2021-2030, and 25 days in the period after 2030. The commercial reserve infrastructure must be sufficient to stabilize the domestic market demand with the capacity increasing by 2.5-3.5 million cubic meters in 2021-2030, reaching 10.5 million cubic meters after 2030, satisfying 30-35 days of net imports.

It will ensure infrastructure for national reserve with the capacity of 500,000-1 million cubic meters of petroleum products and 1-2 million tons of crude oil, satisfy 15-20 days of net imports in 2021-2030; ensure the capacity of 500,000-800,000 cubic meters of petroleum products and 2-3 million tons of crude oil, and satisfy 25-30 days of net imports in the period after 2030.

As for the infrastructure for gas reserve, it is necessary to ensure a reserve capacity of 800,000 tons of LPG in 2021-2030, and 900,000 tons after 2030.

It will also ensure infrastructure which can store enough LNG imports, satisfy market consumption demand, and contribute to ensure the supply of material gas for the energy sector and industries with warehouse capacity of up to 20 million tons per annum in 2021-2030 and 40 tons per annum after 2030.

In addition, Vietnam will need to develop infrastructure for petroleum and gas supply to satisfy transport demand by pipeline from supply sources (oil refineries, petroleum warehouses, LPG distribution stations and import LNG storehouses) to centers, industrial consumers, and civil consumers.

In order to reach that end, Vietnam will build a crude oil and petroleum storage network with stations located in regions and localities that will optimize investment, management and operation costs.

As for the national reserve infrastructure, Vietnam will build 500,000 cubic meters of new petroleum storage depots in 2021-2030, and 1-2 crude oil depots in areas near oil refineries (Dung Quat, Nghi Son and Long Son).

Tran Chung