36 GW
wind and solar capacity in 2030
Vietnam energy report
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 2020 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.
Update:
February 2022
Format:
4 files (PDF report, 3 Excel files)
Pages:
38 (Report only)
Delivery:
Immediate by e-mail
Price:
990 €
Price without VAT. Depending on your statute and location, VAT might be applicable. Get in touch with us for more information.
After validation, you will immediately receive 4 files by email (one pdf report and 3 excel files containing the datasets).
Highlights
- 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.
x2
electricity capacity since 2014
0
net CO2 emissions by 2050
Abstract
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. Crude oil production reached67 mbl in 2021 ahead of the company's production plan, but below 2020's level of 70 mbl.
Energy Supply
Oil:
Oil production has been decreasing rapidly since 2015 (-11%/year), reaching 9.8 Mt in 2020. It increased rapidly until 2000, when it reached 16.6 Mt (2.7 Mt in 1990), and then fluctuated around 15-18 Mt until 2015.
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 2 220 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
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 energy market data since 1990 and up to 2020 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 report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
- New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
- Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.
Projections Data (Excel Sheet)
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.
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