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Vietnam energy report

Vietnam energy report
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This analysis includes a comprehensive Vietnam energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.


  • The share of renewables in the total primary energy should range between 15 and 20% in 2030.
  • The country is aiming towards liberalisation of the power retail market in 2025.
  • Large State-owned companies operate in the energy sector: PVN for hydrocarbons (90% of total gas production), EVN for electricity (46% of total output), and Vinacomin for coal (95%).
  • The solar and wind capacity has more than quadrupled since 2019, reaching 23 GW in 2022.
  • The share of renewables in the power mix has increased by 21 points since 2019 to 51% in 2022.
  • Oil and gas production has been decreasing rapidly since 2015 with the decline in existing fields.
  • After 4-years of frozen retail electricity prices, EVN increased prices by 5% in 2023 due to a coal price surge.
  • Motor fuel prices nearly doubled between 2020 and 2022 and then decreased in 2023.
  • Energy consumption per capita was 1/3 lower than the Asian average in 2022.
  • Industry consumes about 55% of the country's electricity.
  • Vietnam aims to nearly double its power capacity to 158 GW by 2030.
  • Coal reliance in the power sector will decrease to the benefit of LNG and renewables. Almost 100 GW of gas power plants are planned, half of which from LNG.
share of electricity consumed in industry in 2022
power capacity expected by 2030
53 GW
LNG-fired power plants planned
  • 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


    EVN (Vietnam Electricity), a public holding under the supervision of the MOIT, is the country's national electricity company.

  • Energy Supply


    The marketed production of natural gas grew by 7.9% in 2022 to 8.2 bcm, after a sharp decrease between 2019-2021 (-9.7%/year to 7.6 bcm). Previously, production had jumped from 1.4 bcm in 2000 to around 10 bcm since 2015 thanks to the commissioning in 2002 of the Nam Con Son field.

  • Energy Prices


    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.

    Motor fuel prices nearly doubled between 2020 and 2022 due to tight supplies following the COVID-19 pandemic. In 2023, prices decreased by 13% for gasoline (reaching US$97c/l) and 17% for diesel (to US$86c/l).

  • Energy Consumption

    Energy consumption per capita is low, at 1 toe and 2 450 kWh for electricity in 2022 (vs 1.5 toe and 3000 kWh on average in Asia).

    Total energy consumption increased rapidly until 2020 (5.2%/year over 2010-2020), decreased by 2% in 2021 (due to Covid-19), and rebounded in 2022 by 4.5% to 99.5 Mtoe.

  • 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: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • 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 (2022, %)
  • GRAPH 9: Final consumption market share by sector (2022, %)
  • 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 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.