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Vietnam approves its Energy Master Plan for 2021 - 2030, with a vision to 2050

The Vietnamese Government has approved the country’s National Energy Master Plan for the period 2021 - 2030, with a vision to 2050. In the plan, final energy consumption is forecast to reach 107 Mtoe by 2030 and 165 to184 Mtoe by 2050 (up from 66 Mtoe in 2021), while primary energy consumption will reach 155 Mtoe by 2030 and between 294 and 311 Mtoe by 2050 (92.5 Mtoe in 2021). The Master Plan targets a proportion of renewable energy in its total primary energy of 15 to 20% by 2030 and about 80 to 85% by 2050.

In its plan, Vietnam intends to reduce its coal output, stabilise its crude oil output and increase its gas output. Crude oil output in the period 2021 - 2030 is expected to reach between 6 and 9.5 Mt/year; for the period of 2031 – 2050, it will reach 7 to 9 Mt/year (8.7 Mt in 2021). Coal output in the period 2021 - 2030 is expected to range between 41 and 47 Mt/year; coal production should reach 39 Mt by 2045 and 33 Mt by 2050 (51.5 Mt in 2021). Natural gas output in the period 2021 - 2030 will reach 5.5 to 15 bcm/year; for the period 2031 – 2050, output is expected to reach 10 to 15 bcm/year (7.2 bcm in 2021).

The plan also forecasts that Vietnam’s greenhouse gas emissions will be about 399-449 MtCO2eq in 2030 and about 101 MtCO2eq in 2050. The country will cut greenhouse gas emissions by 17-26% by 2030, and about 90% by 2050, compared to a business-as-usual scenario.

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