Vietnam seeks to import LNG from Australia, US, Qatar, then Russia

Vietnam can import LNG from major exporters such as Australia, the United States, and Qatar, as those nations have plans to expand their exports, the according to the Ministry of Industry and Trade.

In its draft amendment to the power development plan VIII (PDP VIII), the trade ministry said in the long term, Vietnam can consider LNG imports from Russia and other Middle East nations.

The ministry affirmed the diversified import of LNG can help Vietnam ensure its fuel supply. It noted an advantage that the designs of all LNG-fired power projects in Vietnam feature the infrastructure for import and regasification.

PV Gas, under state-owned Petrovietnam (PVN), is currently the only LNG importer in Vietnam. The country's first batch of imported LNG was conducted in July 2023. As of June 2024, PV Gas imported five batches of LNG, totaling 300,000 tons.

Vietnam currently has only one operational LNG-fired power project, namely Nhon Trach 3 and Nhon Trach 4 in the southern province of Dong Nai. The Nhon Trach 3 section connected to the national grid last week.

Besides the Nhon Trach 3 and Nhon Trach 4 project, LNG Hiep Phuoc is the only other LNG-fired power project under construction in Vietnam. The two projects accounted for 2,824 MW out of 13 projects with 22,400 MW in PDP VIII.

According to the draft amendment to PDP VIII, the electricity sector is set to consume 10-11.8 billion cubic meters of imported LNG yearly until 2030, then 9-11 billion cubic meters yearly by 2045.