Vietnam’s plan to quadruple by 2030 its gas processing capacity, turning it into its first source of energy, marks a big bet on imported liquefied natural gas and its reserves in the South China Sea, despite supply and geopolitical risks.
Locally produced gas would be given priority over LNG, the government said, with output expected to jump by about 65% to 15 gigawatts by 2030 – but its share in the country’s power mix is set to drop to 10% from 13% in 2020. The plan does not indicate the estimated cost of LNG imports. Prices rose quickly last year as European Union countries sought to replace Russian gas, a trend that is expected to continue, warned the Institute for Energy Economics and Financial Analysis .
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: