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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 2019 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.

Vietnam energy report
Update: 
November 2020
Format: 
4 files (PDF report, 3 Excel files)
Pages: 
39 (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 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.

4.6%

annual increase in total energy consumption since 2010

+42%

electricity capacity since 2015 (+16 GW)

57%

of electricity generation from coal (2019)

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

    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

    Resources:

    Vietnam has significant energy reserves: 100 TWh of economically exploitable hydro resources, more than 3 100 Mt of proved recoverable coal reserves, almost 200 bcm of proven natural gas reserves (2019), and around 600 Mt of crude oil reserves (2019). The oil reserves are the second largest in Asia behind China and close those for India.

  • Energy Prices

    Oil:

    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).

  • 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.

Table of Contents

  • 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

List of Graphs

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, %)

List of Tables

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.

Data (Excel Sheet)

The Vietnam energy market data since 1990 and up to 2019 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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