Hanoi (VNA) - Sharplydecreasing Liquid Natural Gas (LNG) output and increasing prices of new gasresources are forcing Vietnam to look to increase LNG imports. The country is expected to import five million tonnes of LNG by2025. The figure is expected to increase to 11 million tonnes by 2030 and 13.9million tonnes by 2035. By the end of this year, the Vietnam National Oil and GasGroup (PetroVietnam) will have supplied more than 100 billion cu.m of gas.Gas for electricity production accounted for 90 percent of the country’s totalgas output, generating around 30 percent of total power output. Gas forfertilizer production contributed 70 percent of the total fertilizer demand. Vu Dao Minh, deputy head of PetroVietnam’s Department of Oil andGas Exploitation, said the group has been active in promoting the developmentalprogress of potential gas mines in the basins of Cuu Long, Nam Con Son, and thecentral and south west regions. The annual gas output has been around 10billion cu.m. However, Minh said that after the year of 2020, current gas mineoutput will be reduced, thus affecting gas supply. In addition, the developmentof new gas mines will face high levels of impurities and difficult deep waterlocations. These factors will affect exploitation, collection and processingcosts. It is forecast that the country’s total gas supply will be morethan 268 billion cu.m, while its total demand will be over 344 billion cu.m inthe 2017-35 period, he said, adding that the supply would not be enough for thedevelopment of new power plants under the master electricity plan VII. He said the country needs to develop new gas resources whileimporting LNG to ensure demand is met. This would be a challenge for the synchronous development of thegas industry. It requires suitable mechanisms and policies to encourageinvestment into the sector. The Government should stipulate different gasprices to customers in the sectors of electricity, petrochemical and industry,he added. He noted that the policies could promote gas market development,ensuring investment project effectiveness as well as contributing to energysecurity. Deputy Minister of Industry and Trade Hoang Quoc Vuong said theministry will continue to review and supplement Vietnam’s gas industry masterplan by 2020 with a vision to 2035.
Vuong also required that PetroVietnam propose suitable policiesfor gas prices to ensure benefits to the Government, businesses and people as apre-condition for the development of the gas industry. — VNA
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Illustrative image (Source: enternews.vn) 
