Vietnam energy report

• The country raised its renewable target to 15-20% of total energy supply in 2030 and 25-30% in 2045.
• It updated its NDC and aims at cutting GHG emissions by 27% in 2030 (with international support). An Emission Trading Scheme is being considered.
• 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.
• Electricity production is increasing at a very fast rate (11%/year since 2010), with an increasing market share for coal.
• Solar installed 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 covid-19 pandemic may curb foreign investment plans in the short run.
• The country reviewed its power mix forecasts for the next decade in favour of renewable and gas-to-power projects.

• 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 (Electricity of Vietnam), a public holding under the supervision of the MOIT, has been the country's national electricity company since 1995.

• 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

  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 is allowed to 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 2 100 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", the total primary energy supply in Vietnam 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.