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Vietnam energy report

Vietnam energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
74 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • ENERGY AND CLIMATE POLICY FRAMEWORK
  • ENERGY COMPANIES
  • ENERGY SUPPLY AND DEMAND
  • ENERGY USE AND PRICE BY SECTOR
  • ISSUES AND PROSPECTS
  • STATISTICS
  • ABBREVIATIONS
  • GLOSSARY

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1 490 €

Overview

Vietnam’s energy sector is undergoing a strategic transformation, prioritising renewables and low-carbon solutions to meet ambitious climate targets. The revised Power Development Plan VIII targets a significant shift towards solar, wind, and hydropower, aiming for renewables to dominate the energy mix by 2050. Policies promote biofuels, hydrogen, and nuclear energy while phasing out coal, supported by international partnerships like the Just Energy Transition Partnership. Market liberalisation, regulatory reforms, and infrastructure expansion further underpin this transition.

Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.

Highlights

  • The 2025 Revised PDP VIII aims for renewables to reach between 74-75% in the power mix by 2050.
  • MOIT issued Directive 16/2024 to accelerate solutions promoting biofuel use across Vietnam.
  • State-owned companies dominate the energy sector: PVN for hydrocarbons, EVN for electricity, and Vinacomin for coal.
  • The power mix is 61% from thermal, including 54% from coal.
  • Around 9.3 GW of coal plants have been commissioned since 2020, leading to a large increase in GHG emissions.
  • Energy consumption per capita is 1/4 lower than the Asian average in 2024.
  • Oil and electricity each cover 35% of Vietnam's residential energy mix by 2024, replacing biomass, which fell from 62% in 2010 to 25%.
  • Vietnam aims to more than double its power capacity by 2030 to 183-236 GW.
61%
Power mix from thermal in 2024
X2
Power capacity expected by 2030
8 GW
Nuclear capacity expected by 2050

  • Energy & Climate Policy Framework

    The Ministry of Industry and Trade (MOIT) supervises the energy sector. Within the MOIT, the General Directorate of Energy (GDE) was split into three Departments in 2017: Electricity and Renewable Energy, Petroleum and Coal, and Energy Saving and Sustainable Development.

  • Energy Companies

    Gas:

    PV Gas, PetroVietnam Gas Corporation is the national gas company (96% PetroVietnam, 4% foreign ownership). In 2024, the group produced around 6.4 bcm of natural gas (-7%, ~98% of total production).

  • Energy Supply & Demand

    Gas:

    After a 7.4% increase in gas production in 2022 to 8.3 bcm, production fell in 2023 to 7.7 bcm and dropped again to 6.5 bcm in 2024 (-15.4%). It decreased sharply between 2019 and 2021 (-13%/year to 7.7 bcm). Previously, production had jumped from 1.6 bcm in 2000 to around 11 bcm since 2015 thanks to the commissioning of the Nam Con Son field in 2002.

  • Energy Use and Price by Sector

    Energy Prices in Transport:

    The prices of motor fuels are partially controlled: the Government sets prices within a 10% range in the case of motor fuels and in a 5% range for other products.

  • Issues & Prospects

    Within the Master Plan for the development of energy for 2021-2030, with a vision to 2050 (published in 2023), energy demand is projected to increase at an average of 7%/year until 2030 and 6.5-7.5%/year between 2031-2050. The total primary energy supply is expected to reach 155 Mtoe in 2030 and between 294-311 Mtoe in 2050.

  • Graph 1: Final Intensity to GDP
  • Graph 2: Primary Consumption Trends by Energy Source
  • Graph 3: Total Consumption Market Share by Energy (2024)
  • Graph 4: Installed Electric Capacity by Source
  • Graph 5: Installed Electric Capacity by Source (2024)
  • Graph 6: Gross Power Production by Source & Consumption
  • Graph 7: Power Generation by Source (2024)
  • Graph 8: CO2 Intensity of Electricity Generation
  • Graph 9: Crude Oil Production & Consumption
  • Graph 10: Petroleum Products Production & Consumption
  • Graph 11: Gas Production & Consumption
  • Graph 12: Coal Production & Consumption
  • Graph 13: GHG Emissions and CO2-energy Emissions
  • Graph 14: CO2-Emissions per Capita
  • Graph 15: CO2 Intensity to GDP
  • Graph 16: Final Demand Trends by Energy Source
  • Graph 17: Final Consumption by Sector
  • Graph 18: Final Consumption Market Share by Sector (2024)
  • Graph 19: Share of Electricity in Total Final Energy Consumption
  • Graph 20: Final Consumption in Industry by Energy Source
  • Graph 21: Energy Prices in Industry (Taxes Included)
  • Graph 22: Final Consumption in Transport by Energy Source
  • Graph 23: Energy Prices in Transport (Taxes Included)
  • Graph 24: Final Consumption in Residential, Services, Agriculture by Energy Source
  • Graph 25: Energy Prices in Residential (Taxes Included)
  • Graph 26: Upcoming New Capacity by Energy Source
  • 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.

The Vietnam energy market data since 1990 and up to is included in the Excel file accompanying the Vietnam country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Vietnam Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Vietnam energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

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.