Vietnam’s coal imports are forecast to increase to meet industrial production demand, according to a draft strategy on developing the domestic coal industry compiled by the Ministry of Industry and Trade (MoIT).
Accordingly, Vietnam will import about 50-83 million tonnes of coal per year during the 2025-2035 period, with the volume gradually falling to about 32-35 million tonnes by 2045.
MoIT data shows domestic coal consumption increased rapidly from 27.8 million tonnes in 2011 to 38.77 million tonnes in 2015, and about 53.52 million tonnes in 2021.
The volume of coal consumed at present has more than doubled compared to 2011, mainly for electricity production.
The demand for primary fuel, including coal, would continue to increase, possibly peaking in the 2030-2035 period, the ministry said.
Vietnam's coal demand is expected to hit 94-97 million tonnes in 2025, and peak at 125-127 million tonnes in 2030, mainly due to the increase in demand for power generation and from the cement, metallurgy and chemical industries.
The ministry also predicted that demand for energy after 2040 would decline due to the energy transition process to meet emission reduction targets.
Coal used for non-energy purposes such as producing nitrogenous fertilisers and chemicals will be encouraged to develop to ensure the sustainable development of the domestic coal industry, it noted.
In the draft strategy¸ the ministry said by 2030, about 85-90% or 39-42 million tonnes of commercial coal, will be prioritised for power production to ensure national energy security.