Vietnam Turns to LNG as Power Demand Rises with Double-Digit Growth Ambitions

Vietnam is rapidly expanding its power sector to meet rising demand driven by double-digit GDP growth ambitions. Deputy Industry and Trade Minister Nguyen Sinh Nhat Tan emphasized that the country's energy system must 'go one step ahead' to meet increasing electricity needs.

The government aims to build sufficient LNG import capacity to supply gas-fired power plants and other users, with 22 planned projects by 2030. Vietnam expects to develop regional LNG energy hubs and increase its gas market to 30-35 billion cubic meters a year.

LNG is seen as a bridge for rising power demand due to its large-scale, relatively stable, and flexible generation capabilities. This will help support the grid when renewable output fluctuates.