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Vietnam to promote use of LNG in power industry

The Vietnamese Government and Ministry of Industry and Trade planned to create favourable conditions for Japanese enterprises to research, survey and deploy liquefied natural gas (LNG) projects in Vietnam as it attempted to develop its use

  in the power production industry.

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The LNG Producer-Consumers Conference 2019 attendants pose for a photo. — VNA/VNS Photo Dao Tung

 

The statement was issued by Minister Tran Tuan Anh during a meeting with Japanese Minister of Economy, Trade and Industry Isshu Sugawara in Tokyo on Thursday.

Anh asked Japan to continue supporting Vietnam to promote the development of gas, thermal and power projects, with the necessary regulations and policies to expand LNG ports and train staff in the field.

Sugawara said Japan would increase its budget to support training human resources for Vietnam in the near future.

Regarding international economic integration, the two ministers emphasised the need to promote multilateral trade negotiations in the region such as the Regional Comprehensive Economic Partnership (RCEP).

Sugawara said he highly appreciated Vietnam’s development in recent years and believed the RCEP agreement would be completed on time.

The meeting was held after Anh attended the LNG Producer-Consumers Conference 2019 in Tokyo on Thursday, which attracted policymakers, researchers and representatives from 14 LNG production countries and 12 LNG consumption countries.

At the conference, Anh said the development of LNG was an indispensable trend to diversify fuel sources, contributing to the country’s energy security.

Vietnam’s energy exploitation is mainly based on traditional resources such as hydroelectricity, coal, oil and gas, and hydroelectricity has almost been fully exploited. The Vietnamese Government has established policies to increase the use of renewable energy for economic development.

In the development plan for Vietnam’s gas industry, the demand for LNG will increase to about five million tonnes by 2025, about 10 million tonnes by 2030 and 15 million tonnes by 2035.

“To accomplish this goal, Vietnam has developed LNG import warehouses and ports. It has also built and issued a legal framework for the development of Vietnam’s LNG industry, and set up priority projects based on LNG demand and investment promotion,” Anh said.

The conference, a global annual dialogue launched in 2012, provides participants with a venue to share the latest trends in the global LNG market and discuss opportunities and challenges.

VNS

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