Vietnam plans to build hydrogen storage, distribution and usage facilities with an annual capacity of 10-20 million tons by 2050.
Per the national hydrogen strategy, newly approved by Deputy Prime Minister Tran Hong Ha, another target is to develop distribution systems for the transport sector across the country, in line with global developments.
It also sets the goal of researching and deploying trial models for such targets by 2030.
Vietnam will also research and deploy trial models for storing, transporting, and distributing hydrogen at suitable prices.
By 2030, the country aims to deploy modern technologies in green hydrogen production and in carbon capture and storage, with an annual output of 100,000-500,000 tons; and increase this to 10-20 million tons a year by 2050.
The plan is to trial hydrogen usage at thermal power plants, public transport and long-distance transport, petrochemicals, fertilizer production, cement production and steel production.
By 2050, LNG-fired and gas-fired power plants will use hydrogen as fuel, while coal-fired power factories are set to run on ammonia.
The Ministry of Industry and Trade will coordinate deployment of the national plan.
Prime Minister Pham Minh Chinh in early February requested greater efforts be made by the country to attract large-scale, high-tech FDI projects, especially in the processing, manufacturing, electronics, semiconductors and hydrogen sectors.
Ho Chi Minh City-based The Green Solutions is eyeing to invest $600 million in the first phase of a 500 MW green hydrogen factory in the Mekong Delta province of Bac Lieu.
In August 2023, The Green Solutions and the Netherland’s Climate Fund Managers (CFM) entered into a strategic cooperation pact to promote the hydrogen industry in Vietnam.
State-owned Petrovietnam and Norway’s Equinor in early November last year signed an agreement on clean energy, extending their cooperation to hydrogen, ammonia, carbon capture and storage.