Vietnam energy report

• The country aims to reach 18 and 20 GW of wind and solar capacity, respectively, in 2030.
• It aims to cut GHG emissions by 27% in 2030 (with international support). An Emission Trading System is expected in 2022.
• The hydrocarbon sector is dominated by State-owned companies: PVN for hydrocarbons and EVN for electricity.
• Oil and gas production has been decreasing rapidly since 2015 with the decline in existing fields.
• Solar capacities boomed in 2019 thanks to the renewed FiTs-based support scheme.
• The prices of gasoline and diesel remained almost constant in 2019 after a significant rise in 2018 caused by a tax increase.
• Vietnam's energy prices remain the lowest among its neighbouring countries.
• Energy consumption is increasing rapidly (~5%/year).
• Vietnam's energy mix is increasingly dependent on coal and oil and, to a lesser extent, gas, while the share of biomass is decreasing.
• The country reviewed its power mix forecasts for 2030 by reducing the share of coal to 27% in favour of renewables and gas.

• Institutions & Energy Policy

  The Ministry of Industry and Trade (MOIT) supervises the energy sector. Within the MOIT, the General Directorate of Energy (GDE) administers the energy sector through three Departments: Electricity and Renewable Energy, Petroleum and Coal, and Energy Saving and Sustainable Development.

• Energy Companies

  Oil:

  PVN, PetroVietnam, the state-owned oil and gas company, dominates the oil sector. It operates through its various subsidiaries and affiliates like PetroVietnam Exploration and Production (PVEP) and PV OIL. Due to the COVID-19 crisis, crude oil production dropped to 70 mbl in 2020, compared to 95 mbl in 2019 (-26%).

• Energy Supply

  Gas:

  The marketed production of natural gas has been increasing slightly since 2017, by 1%/year to 9.8 bcm in 2019. It grew very rapidly between 2002 and 2010, from 2.8 bcm to 9.8 bcm (+19%/year, on average), following the commissioning in 2002 of the Nam Con Son field. Production growth then slowed down (about 3%/year) to reach a peak in 2015 (10.6 bcm).

• Energy Prices

  Gas:

  The gas price for power generation is regulated by the Government: this price has been rising since 2014.

• Energy Consumption

  Energy consumption per capita is low, at 1 toe and 2 100 kWh for electricity in 2019 (vs 1.5 toe and 2 600 kWh on average in Asia).

  Since 2010, total energy consumption has increased at the significant rate of 4.6%/year, reaching 92 Mtoe in 2019. The consumption of coal and electricity has grown very quickly since 2010: by 12% and 9%/year, respectively.

• Issues & Prospects

  According to "The Energy Development Planning in Vietnam to 2025 with a vision up to 2035", total primary energy supply is expected to grow by 5.3%/year between 2016 and 2025 and by 4.8%/year between 2016 and 2035, increasing from 80 Mtoe in 2015 to 136 Mtoe in 2025 and 218 Mtoe in 2035.

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Vietnam energy market report graphs:

• GRAPH 1: CO₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2019, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2019, %)
• GRAPH 5: Gasoline & diesel prices (US$/l)
• GRAPH 6: Electricity prices for industry and households (US$c/kWh)
• GRAPH 7: Consumption trends by energy source (Mtoe)
• GRAPH 8: Total consumption market share by energy (2019, %)
• GRAPH 9: Final consumption market share by sector (2019, %)

In the Vietnam energy market report you will find the following tables:

• Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
• Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
• Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
• Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Vietnam country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

• Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
• Power: Electricity generation & capacities, by technology.
• CO₂: Total CO₂ emissions.
• Macro-economy: Main macro-economic assumptions.
• Key indicators: Energy intensity, share of renewables, CO₂ emissions per capita and per unit of GDP.