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.

Vietnam energy report
February 2022
2 files (PDF report, Excel file)
38 (Report only)

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  • 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.

36 GW

wind and solar capacity in 2030


electricity capacity since 2014


net CO2 emissions by 2050


  • 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


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

  • Energy Supply


    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


    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.

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 (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, %)

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 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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