Attending the Seminar is Royal Norwegian Ambassador to Vietnam, H.E. Grete Løchen; Director, Commercial Counsellor, Royal Norwegian Embassy, Mr. Arne-Kjetil Lian; Director of Midstream & LNG of Norwegian Energy Partner, Mr. Eirik Melaane; PECC1’s Deputy General Director, Mr. Le Minh Tuan – and more than 60 participants representing key national and international companies and organizations in the field of LNG in Vietnam.
The Seminar spotlighted the participation of ten Norwegian companies/organizations: Norwegian Energy Partner, DNV GL, Export Credit Norway, Golar Power, Höegh LNG, Kanfer Shipping, LNT marine, LMG marine, LNT Marine, Passer marine, and Network LNG
Speaking at the Seminar, Royal Norwegian Ambassador to Vietnam, H.E. Grete Løchen emphasized that LNG is the cleanest fossil fuel. In the context of current energy structure transition in Vietnam and the region, LNG represents an excellent alternative to coal-fired thermal powers in terms of less air pollution.
H.E Grete Løchen – Royal Norwegian Ambassador to Vietnam deliveríe the speed at the Seminar (Image: Royal Norwegian Embassy to Vietnam)
“Norway is among the leading countries in providing high-tech and smart solutions for the entire supply chain in the LNG industry. With much expertise, knowledge and technologies in the LNG industry, Norwegian companies are willing to transfer and share with Vietnam” H.E Grete Løchen confirmed.
Delivery at the Seminar, Mr. Le Hai Dang- Director of EVN’s Development Strategy Department: According to the revised PMP VII, Vietnam will need to newly construct LNG power plants with the total capacity of 15,000 – 19,000 MW in the period of 2025-203 in order to meet the local increasing power demand. However, after 2020 it is forecasted that the gas supply source will decline due to the declined gas reserves and delay in new gas fields development. Therefore, there will have a need to additionally import LNG to meet the fuel demand of these gas-fired power plants in the South.
According to the Gas Sector Development Master Plan of Vietnam up to 2025 with vision to 2035, Vietnam will have to import 1 - 4 billion m3 LNG each year in the period of 2021-2025; increase to 6-10 billion m3 each year after that. Therefore, the Vietnamese government is now encouraging local and international companies in the LNG industry to cooperate in order to become the LNG market in Vietnam more “exciting” than ever.
According to Mr. Nguyen Thanh Ha, Managing Director of Vietbid, Vietnam is ranked as one of the most attractive emerging markets in the world. In 2019 it is forecasted that GDP growth may reach 6.5%. Along with that, Vietnam is an attractive destination for many foreign investors (FDI).
The transition of FDI inflows also leads to an increasing power demand that Vietnam will need to increase the use of renewable energy sources, including gas-fired power source, to supplement to the existing power sources.
To be well prepared for this, Mr. Baptiste Debaene, Business Development Manager of Hoegh LNG said that, besides the existing legal framework, the Government should carefully consider tax and equipment import factors for LNG-fired projects.
"LNG is considered as a reliable source which is cleaner than coal and the import will ensure to support the renewable energy source in the coming time” representative of Hoegh LNG said.
Presently, Norway is among the leading countries in providing solutions. Norway’s LNG companies cover every step in the LNG supply chain, from LNG production, regasification, transportation to LNG-fired power production. In particular, Norway is the first country in the world to develop solutions for floating LNG terminals which are cost-effective, reliable, and can be delivered within a very short timeline.
Mr. Le Minh Tuan – Deputy General Director of PECC1 releases that in addition to power plant projects such as solar power plants, wind power plants, the use of LNG as power plants’ fuel is also a way to ensure sustainable economic development. He also expressed his joy and honor when together with the Royal Norwegian Embassy co-hosted the Seminar and hoped that this would be an opportunity to promote positive dialogue between LNG manufacturers, consumers and other stakeholders. This will enhance the overall understanding of global LNG market trends and explore cooperation opportunities.