Demand for liquefied natural gas (LNG) will continue to be strong, outpacing domestic production by 2020 requiring the country to import around one million cubic metres a year.
Viet Nam is at a crossroads. Its economic rise is contributing to an emerging energy supply crisis that could endanger its economic competitiveness and its ability to share prosperity more widely.
A question being asked by many experts now is why banks are joining a race to increase deposit interest rates though there is no ostensible liquidity shortage.
Although people and businesses don’t want the price of electricity and other commodities to increase, it is necessary raise these prices to balance the economy in a multidimensional way.
Viet Nam’s power industry is forecast to see a rise in coal-powered generation as the cheap and reliable source remains the most feasible option to meet the country’s rapidly rising power demands.
Viet Nam will likely face a power shortage in the period 2020-30 if electricity generation is not increased and there is not enough fuel (coal and gas) for generation, warned an energy forum held in Ha Noi yesterday.
Ha Noi Power Corporation (EVN Ha Noi) put into operation 179 medium and low voltage grid works in the first six months of the year, contributing to providing electricity for production and daily living of residents.
Several contentious issues are dogging implementation of key projects managed by the Southern Power Management Board (SPBM), contradictory regulations and land evaluation and compensation rules that residents are not ready to accept.
Eleven Japanese banks will jointly provide a JPY81-billion (US$680
million) loan to the Electricity of Vietnam (EVN) to build a thermal
power plant project in the country.
Viet Nam is one of several Asian countries being investigated by Australia for alleged dumping of power transformers. The other countries include China, Korea, Taiwan, Indonesia and Thailand.