Solutions outlined for LNG power development in Master Plan VIII
Vietnam stands as a nation with abundant favourable prospects for liquefied natural gas (LNG) power, which has caught attention from numerous enterprises and investors, heard a forum held by the Vietnam Chamber of Commerce and Industry (VCCI)’s Business Forum magazine in Hanoi on December 7.
Hanoi (VNA) – Vietnam stands as a nation with abundant favourable prospectsfor liquefied natural gas (LNG) power, which has caught att꧙ention from numerousenterprises and investors, heard a forum hꦺeld by the Vietnam Chamber ofCommerce and Industry (VCCI)’s Business Forum magazine in Hanoi on December 7.
Theforum aimed to realise the goals of LNG power development asoutlined in National Power Development Plan VIII for the2021-2030 period. Economist Ngo Tri Long proposed that the Government promptly approve plans to lay the groundwork for implementing energy projects, and relevant State authorities establish special mechanisms for LNG powerdevelopment to overcome existing limitations and meet schedule. At the same time, national standards and regulations should bepromptly issued for practical application, along with certifications to ensurethat equipment procured or produced from abroad complies with current standards,he said, adding that a mechanism is essential to empower LNG power plantoperators to directly negotiate electricity sales with consumer households, andthe Vietnam Electricity Group (EVN) is among the entities involved. Plant operators should have the right to directly purchase LNG, rentstorage facilities, and gasify the fuel. Power plants may invest in additionaltransmission lines. In such a scenario, the electricity selling price will besubject to mutual agreement between the buyer and seller.
Longalso called for establishing a stable legal framework and policies related tothe importation and consumption of LNG.
NguyenVan Phung, a senior expert on taxation and corporate management, s💝aid it is necessaryto clearly affirm that LNG power must operate🐟 under a market pricing mechanism.There should be no imposition of artificially low pricing to ensure a lowelectricity price framework.
In fact, the production cost of LNG power is undoubtedly muchhigher than those of power generated from natural resources such as coal, solar, windand hydro. Therefore, a scientifically-based pricing framework for this energysource is needed, drawing on practical experience from countries that have effectivelyadopted such frameworks, he added./.
Vietnam is on the cusp of becoming a major player in the global liquefied natural gas (LNG) market, according to an article posted on the US website nasdaq.com on October 3.
The 1 million-tonne Thi Vai liquefied natural gas (LNG) receiving terminal project, the biggest of its kind in Vietnam, was officially put into operation in the southern province of Ba Ria - Vung Tau on October 29.
Infrastructure, planning and a market mechanism were among key issues that must be addressed in order to develop a market for liquefied natural gas (LNG) in Vietnam, heard participants at a conference on LNG on November 22 in Hanoi.
An upcoming forum on realising the goals of LNG (liquefied natural gas) electricity development as outlined in the national power development plan for 2021 – 2030 is slated for December 7 in the capital city.
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An overview of the forum (Photo: VNA) 
