Viet Nam, Australia seek energy cooperation opportunities

Wednesday, May 24, 2017 15:00

Viet Nam seeks opportunities to cooperate with Australia in energy industry. — Photo

A forum was held in Ha Noi on Tuesday with a view to providing Australia with an insight into the real situation of Viet Nam’s energy industry.

The forum also aimed at helping domestic firms explore the possibility of co-operation with Australian partners.

Energy security is a priority of both the Vietnamese and Australian governments. The two countries have been enhancing their partnership in industry, education-training and research on energy.

At the forum, co-organised by the Vietnamese Ministry of Industry and Trade and the Australian Embassy, representatives from Australian agencies, organisations and businesses shared their experience and latest technologies in energy.

Deputy Minister of Industry and Trade Ho Thi Kim Thoa said Australia’s strengths in the fields of coal and gas with modern technologies can help Viet Nam ensure energy security and protect the environment. Hence, the two nations hold great potential for co-operation in the sphere, she noted.

Janelle Casey, commercial counsellor of the Australian Trade and Investment Commission (Austrade), expressed hope that through the event, the two sides would understand co-operation opportunities better and promote linkages in energy, trade and investment.

According to a report released by the Ministry of Industry and Trade, commercial electricity growth has been on the rise over the past 15 years. Demand for electricity has also strongly increased, growing by 13 per cent in 2006-10 and 11 per cent in the last five years. It is estimated that the country’s electricity demand will grow some 10 per cent in the next 10 years.

To ensure energy security, Viet Nam has shifted from being an energy exporter to an importer. The country is projected to import 17 million tonnes of coal, accounting for 31 per cent of coal demand, to generate electricity in 2020.

Meanwhile, Viet Nam is also considering the possibility of increasing electricity imports from neighbouring countries such as Laos. — VNS

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