Vietnam's Gas-Based Power Generation Capacity to Triple: Press
Vietnam's gas-based power generation capacity is expected to almost triple from 7.2 GW to 19 GW by 2030 which will lead to gas imports of 22bn m3/year by then, PN Express reported September 13 quoting a government official.
With the gas-based capacity rising, the southeast Asian country will need to import 1bn-4bn m³ of gas between 2021-2025, Phung Van Sy, an official of the ministry of industry and trades coal and oil department said. The gas imports are expected to 6bn m³-10bn m³ from 2026, with almost half being imported gas in the form of LNG.
The reason for expected rise in gas imports is that Vietnam’s gas production capacity of 8bn m³/year would start declining from 2023, he added.
Not just Vietnam but the whole south and southeast Asian region is expected to see increased in LNG imports. Wood Mackenzie in a recent report said the regions' imports will grow over five times to reach 236mn metric tons/year by 2040.