Forum on LNG power generation targets to take place in early December

Monday, Dec 04, 2023 14:56

A view of Thị Vải LNG terminal in Bà Rịa-Vũng Tàu Province. — VNA/VNS Photo

An upcoming forum on realising the goals of LNG (liquefied natural gas) electricity development as outlined in the national power development plan for 2021-30 is slated for December 7 in the capital city.

Currently, there are 13 LNG power projects approved by the Prime Minister as part of the priority investment list. By 2030, it is anticipated that 22,400 MW of LNG electricity will be generated.

The development of LNG electricity aims to enhance efficiency in power generation, reduce dependence on coal-fired power, cut emissions, protect the environment, and contribute to the country's sustainable development goals. However, investment in LNG power projects in Việt Nam is facing challenges related to the market, funding, supply fluctuations, purchase contracts, as well as mechanisms and policies.

As per the plan, the government aims to achieve a total capacity of 150,000 - 160,000 MW by 2030, doubling the current installed capacity. In the 2020-30 period, the share of coal-fired electricity in the power structure is expected to decrease from nearly 29 to 20.5 per cent, and that of natural gas-fueled electricity to increase from 10.2 to 21.8 per cent.

Leveraging the advantages of LNG such as high readiness, large capacity, wide adjustability range, quick response time, and lower CO2 greenhouse gas emissions compared to coal and oil power plants, accelerating the implementation of LNG projects aligns with Việt Nam’s commitments at the UN Climate Change Conference in Glasgow (COP26) regarding the trend towards low-emission fuel use. — VNS

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