The Vietnamese government has approved a VND270bn (US$11.4bn) plan to expand its national fuel storage capacity by 2030. Vietnam plans to develop oil and gas infrastructure in order to store at least 75 to 80 days’ requirements of petroleum products and crude oil, and preferably up to 90 days (up from 65 days of net imports currently).
The scheme also plans the construction of 500,000 cm of crude oil storage by 2030, as well as 59 new storage facilities to hold petroleum products (adding to the 89 currently in use) with a cumulated storage capacity of 5.1 mcm. Under the plan, the country will also develop LNG storage sites at the Cai Mep Industrial Zone in Ba Ria-Vung Tau Province and at the Nam Dinh Vu Industrial Zone in Hai Phong City, with an annual capacity of 20 Mt by 2030 (and up to 40 Mt after 2030). Post-2030, the plan also sets up the installation of around 580 km of new fuel pipelines.
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