Vietnam energy report

• The country aims to reach a capacity of 36 GW of wind and solar in 2030 and phase-out coal from the power mix by 2040.
• RES auctions and PPA contracts are replacing FiTs.
• An Emission Trading System is expected in 2022.
• The hydrocarbon sector is dominated by State-owned companies: PVN for hydrocarbons and EVN for electricity.
• The COVID-19 outbreak negatively impacted 2021 oil and gas production of PVN.
• Oil and gas production has been decreasing rapidly since 2015 with the decline in existing fields.
• Solar capacities boomed in 2020 to take advantage of FiTs before their removal at the end of the year.
• The prices of gasoline and diesel dropped in 2020 after a 20% rise in 2018 caused by a tax increase.
• Oil prices are lower than in neighbouring countries.
• Energy consumption is increasing rapidly (~5%/year since 2010).
• The energy mix is increasingly dependent on coal.
• The country reviewed its power mix forecasts for 2030 by reducing the share of coal to 28% 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

  Electricity:

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

• Energy Supply

  Gas:

  The marketed production of natural gas has been increasing slightly since 2016, by 4%/year to 9.2 bcm in 2020. 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 2016 (10.9 bcm).

• Energy Prices

  Electricity:

  The costs of transmission and distribution, as well as the minimum and maximum production tariffs, are determined by the Regulatory Authority. Since 2017, EVN can raise the average retail price of electricity by between 3-5% without the need to secure approval from MOIT. For increases of more than 5% but less than 10%, EVN must request permission from MOIT.

• Energy Consumption

  Energy consumption per capita is low, at 1 toe and 2 220 kWh for electricity in 2010 (vs 1.4 toe and 2 712 kWh on average in Asia).

  Total energy consumption increased rapidly until 2019 (5%/year over 2010-2019) and decreased slightly in 2020 (91 Mtoe).

• Issues & Prospects

  According to "National Energy Development Strategy to 2030 and outlook to 2045" (Resolution 55 date de publication?), total primary energy supply is expected to reach 175-195 Mtoe by 2030 and 320-350 Mtoe by 2045.

• 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 (2020, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2020, %)
• 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 (2020, %)
• GRAPH 9: Final consumption market share by sector (2020, %)

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.