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
July 2021
4 files (PDF report, 3 Excel files)
40 (Report only)

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  • The country aims to reach 18 and 20 GW of wind and solar capacity, respectively, in 2030.
  • It aims to cut GHG emissions by 27% in 2030 (with international support). An Emission Trading System is expected in 2022.
  • 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.
  • Solar 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 country reviewed its power mix forecasts for 2030 by reducing the share of coal to 27% in favour of renewables and gas.

19 GW

wind capacity in 2030


electricity capacity since 2015 (+16 GW)


share of coal in the power mix in 2045


  • 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


    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. Due to the COVID-19 crisis, crude oil production dropped to 70 mbl in 2020, compared to 95 mbl in 2019 (-26%).

  • Energy Supply


    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


    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 2 100 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", total primary energy supply 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


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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